Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.38.

PACB has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a research report on Monday, June 3rd. They set a “buy” rating and a $4.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research report on Monday, April 22nd. Piper Sandler cut their price objective on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Sanford C. Bernstein cut their price objective on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Finally, Scotiabank cut their price objective on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 18th.

Pacific Biosciences of California Trading Up 12.0 %

NASDAQ:PACB opened at $1.68 on Friday. The company has a current ratio of 9.28, a quick ratio of 8.36 and a debt-to-equity ratio of 1.38. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $14.55. The company has a market cap of $457.56 million, a PE ratio of -1.47 and a beta of 2.05. The company has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $3.90.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The business had revenue of $38.81 million during the quarter, compared to the consensus estimate of $38.78 million. Research analysts forecast that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Institutional Trading of Pacific Biosciences of California

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Pacific Biosciences of California in the 1st quarter worth $32,000. Private Wealth Partners LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at about $98,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Pacific Biosciences of California during the 1st quarter valued at about $38,000. Quest Partners LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at about $168,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Pacific Biosciences of California during the 1st quarter valued at about $64,000.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.