Pacific Biosciences of California (NASDAQ:PACB) Issues Quarterly Earnings Results

Pacific Biosciences of California (NASDAQ:PACB) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20), Zacks reports. Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. During the same period in the previous year, the firm posted ($0.27) earnings per share.

Pacific Biosciences of California Price Performance

NASDAQ PACB opened at $1.85 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.83. The firm’s fifty day moving average is $1.80 and its two-hundred day moving average is $1.79.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank decreased their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. Piper Sandler raised their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group decreased their price objective on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.85.

Pacific Biosciences of California Company Profile

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.