Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) Target Price at $2.00

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.0833.

Several research firms have recently weighed in on PACB. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Stephens lifted their target price on Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Barclays upped their price target on Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Monday.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in Pacific Biosciences of California in the 1st quarter valued at about $319,000. Amiral Gestion acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $3,208,000. Invesco Ltd. increased its stake in shares of Pacific Biosciences of California by 100.6% during the first quarter. Invesco Ltd. now owns 524,643 shares of the biotechnology company’s stock worth $619,000 after buying an additional 263,067 shares during the period. Geode Capital Management LLC raised its holdings in Pacific Biosciences of California by 6.4% in the second quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company’s stock valued at $8,333,000 after acquiring an additional 401,637 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Pacific Biosciences of California by 95.5% in the second quarter. XTX Topco Ltd now owns 954,596 shares of the biotechnology company’s stock worth $1,184,000 after acquiring an additional 466,359 shares during the last quarter.

Pacific Biosciences of California Stock Down 2.6%

Shares of PACB opened at $1.88 on Friday. Pacific Biosciences of California has a 52-week low of $0.85 and a 52-week high of $2.73. The company has a quick ratio of 5.40, a current ratio of 6.24 and a debt-to-equity ratio of 17.88. The stock has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $1.57. The company has a market capitalization of $567.59 million, a PE ratio of -0.85 and a beta of 2.32.

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

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.