Pacific Biosciences of California (NASDAQ:PACB) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) from a sell rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

PACB has been the subject of several other reports. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a sell rating to a hold rating in a research note on Tuesday, May 21st. ValuEngine lowered shares of Pacific Biosciences of California from a buy rating to a hold rating in a research note on Friday, July 19th. Finally, Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the stock a hold rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average price target of $7.50.

Shares of Pacific Biosciences of California stock opened at $5.49 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. The stock has a 50-day simple moving average of $5.70. The company has a market cap of $868.84 million, a price-to-earnings ratio of -7.22 and a beta of 1.93. Pacific Biosciences of California has a 1 year low of $3.90 and a 1 year high of $7.84.



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

Institutional investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. increased its stake in Pacific Biosciences of California by 0.6% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 333,355 shares of the biotechnology company’s stock valued at $3,888,000 after purchasing an additional 2,000 shares in the last quarter. Strs Ohio increased its stake in Pacific Biosciences of California by 7.5% during the 2nd quarter. Strs Ohio now owns 47,300 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 3,300 shares in the last quarter. Rhumbline Advisers increased its stake in Pacific Biosciences of California by 3.1% during the 1st quarter. Rhumbline Advisers now owns 180,392 shares of the biotechnology company’s stock valued at $1,304,000 after purchasing an additional 5,364 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Pacific Biosciences of California during the 1st quarter valued at about $53,000. Finally, FNY Investment Advisers LLC increased its stake in Pacific Biosciences of California by 211.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 7,600 shares in the last quarter. Institutional investors own 73.02% of the company’s stock.

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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