Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Average Recommendation of “Reduce” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus recommendation of “Reduce” by the five research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $1.8333.

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Tuesday, April 21st. Zacks Research downgraded Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Barclays boosted their target price on shares of Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a research report on Monday, May 11th.

Pacific Biosciences of California Stock Up 3.6%

Pacific Biosciences of California stock opened at $1.74 on Thursday. The company’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.65. The stock has a market cap of $540.44 million, a P/E ratio of -4.05 and a beta of 2.29. Pacific Biosciences of California has a twelve month low of $1.09 and a twelve month high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%.The company had revenue of $37.18 million during the quarter, compared to analysts’ expectations of $39.94 million. Equities analysts anticipate that Pacific Biosciences of California will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Pacific Biosciences of California

Institutional investors have recently bought and sold shares of the business. Essential Partners LLC acquired a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $25,000. Zacks Investment Management acquired a new stake in shares of Pacific Biosciences of California in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pacific Biosciences of California by 891.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 20,478 shares during the period. Russell Investments Group Ltd. acquired a new stake in Pacific Biosciences of California during the third quarter worth approximately $29,000. Finally, Outlook Wealth Advisors LLC acquired a new stake in Pacific Biosciences of California during the fourth quarter worth approximately $34,000.

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.