Pacific Biosciences of California (NASDAQ:PACB) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) from a strong sell rating to a sell rating in a report published on Thursday, ValuEngine reports.

PACB has been the subject of a number of other research reports. Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the company a hold rating in a report on Thursday, June 20th. Piper Jaffray Companies raised shares of Pacific Biosciences of California from a neutral rating to an overweight rating and set a $8.00 price target for the company in a report on Tuesday, October 15th. Finally, BidaskClub downgraded shares of Pacific Biosciences of California from a hold rating to a sell rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $8.00.

Shares of NASDAQ:PACB traded up $0.01 during trading on Thursday, reaching $5.46. The company’s stock had a trading volume of 504,487 shares, compared to its average volume of 1,725,042. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Pacific Biosciences of California has a 12 month low of $3.90 and a 12 month high of $7.84. The firm’s 50 day simple moving average is $5.36 and its two-hundred day simple moving average is $6.20. The stock has a market capitalization of $833.66 million, a PE ratio of -7.18 and a beta of 1.76.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The firm had revenue of $24.62 million during the quarter, compared to the consensus estimate of $22.27 million. Research analysts anticipate that Pacific Biosciences of California will post -0.64 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. raised its position in Pacific Biosciences of California by 0.6% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 333,355 shares of the biotechnology company’s stock worth $3,888,000 after purchasing an additional 2,000 shares during the period. Strs Ohio raised its position in Pacific Biosciences of California by 7.5% in the 2nd quarter. Strs Ohio now owns 47,300 shares of the biotechnology company’s stock worth $286,000 after purchasing an additional 3,300 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Pacific Biosciences of California in the 2nd quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new stake in Pacific Biosciences of California in the 2nd quarter worth about $37,000. Finally, FNY Investment Advisers LLC raised its position in Pacific Biosciences of California by 211.1% in the 2nd quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 7,600 shares during the period. 69.69% of the stock is currently owned by institutional investors.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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