Pacific Biosciences of California (NASDAQ:PACB) Price Target Raised to $2.00

Pacific Biosciences of California (NASDAQ:PACB) had its target price hoisted by Barclays from $1.50 to $2.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on PACB. Piper Sandler boosted 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 note on Tuesday, November 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Wednesday, October 8th. Finally, Stephens upped their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average target price of $2.08.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $1.93 on Monday. Pacific Biosciences of California has a 52 week low of $0.85 and a 52 week high of $2.72. The stock’s fifty day moving average is $2.01 and its two-hundred day moving average is $1.56. The company has a market capitalization of $582.69 million, a P/E ratio of -0.88 and a beta of 2.32. The company has a quick ratio of 5.40, a current ratio of 6.24 and a debt-to-equity ratio of 17.88.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share for the quarter. The business had revenue of $3.34 million for the quarter. Pacific Biosciences of California had a negative return on equity of 101.49% and a negative net margin of 325.02%. Equities analysts expect that Pacific Biosciences of California will post -0.72 EPS for the current year.

Institutional Trading of Pacific Biosciences of California

Large investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its position in shares of Pacific Biosciences of California by 5.2% in the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock worth $169,000 after buying an additional 6,564 shares during the period. Rhumbline Advisers increased its stake in Pacific Biosciences of California by 2.1% during the third quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock worth $532,000 after acquiring an additional 8,532 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of 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 purchasing an additional 9,617 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $37,000 after purchasing an additional 9,739 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Pacific Biosciences of California by 6.5% during the 3rd quarter. Raymond James Financial Inc. now owns 161,865 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 9,896 shares during the period.

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.