Analysts Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $2.08

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have received an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $2.0833.

Several research firms recently issued reports on PACB. Piper Sandler lifted their price target on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Barclays lifted their price objective on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Finally, Stephens raised their price target on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research report on Monday, November 10th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC boosted its holdings in shares of Pacific Biosciences of California by 5.2% during the third quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 6,564 shares during the period. Rhumbline Advisers increased its holdings in Pacific Biosciences of California by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock valued at $532,000 after purchasing an additional 8,532 shares during the period. Green Alpha Advisors LLC raised its position in Pacific Biosciences of California by 5.4% during the 4th quarter. Green Alpha Advisors LLC now owns 183,466 shares of the biotechnology company’s stock valued at $343,000 after purchasing an additional 9,441 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Pacific Biosciences of California by 10.1% in the 2nd quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock worth $130,000 after buying an additional 9,617 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after buying an additional 9,739 shares during the last quarter.

Pacific Biosciences of California Stock Performance

Shares of Pacific Biosciences of California stock opened at $1.94 on Thursday. The business has a 50-day simple moving average of $2.02 and a 200 day simple moving average of $1.65. Pacific Biosciences of California has a one year low of $0.85 and a one year high of $2.72. The company has a debt-to-equity ratio of 17.88, a current ratio of 6.24 and a quick ratio of 5.40. The firm has a market capitalization of $585.71 million, a price-to-earnings ratio of -0.88 and a beta of 2.20.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) EPS for the quarter. The firm had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. On average, research analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.