Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $1.90

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $1.90.

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Piper Sandler upped their price target on shares of Pacific Biosciences of California from $1.25 to $1.50 and gave the company a “neutral” rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Saturday, August 9th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PACB. Teacher Retirement System of Texas acquired a new position in Pacific Biosciences of California during the first quarter worth $43,000. Hartline Investment Corp acquired a new position in Pacific Biosciences of California during the first quarter worth $37,000. Wealthfront Advisers LLC boosted its holdings in Pacific Biosciences of California by 137.3% during the first quarter. Wealthfront Advisers LLC now owns 89,576 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 51,825 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pacific Biosciences of California during the first quarter worth $482,000. Finally, ARK Investment Management LLC boosted its holdings in Pacific Biosciences of California by 1.2% during the first quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company’s stock worth $43,045,000 after purchasing an additional 434,079 shares during the last quarter.

Pacific Biosciences of California Stock Up 3.5%

Pacific Biosciences of California stock opened at $2.09 on Friday. The stock has a market capitalization of $627.77 million, a PE ratio of -0.91 and a beta of 2.10. Pacific Biosciences of California has a twelve month low of $0.85 and a twelve month high of $2.72. The company has a quick ratio of 6.02, a current ratio of 6.92 and a debt-to-equity ratio of 10.51. The company has a 50 day moving average of $1.42 and a 200-day moving average of $1.31.

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 company had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. On average, equities research analysts anticipate that Pacific Biosciences of California will post -0.72 EPS for the current fiscal 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.