Pacific Biosciences of California (NASDAQ:PACB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Pacific Biosciences of California (NASDAQ:PACB) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.

A number of equities research analysts have recently commented on PACB shares. ValuEngine downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Friday, July 19th. BidaskClub upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. 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 report on Thursday, June 20th.

A number of institutional investors have recently added to or reduced their stakes in PACB. BlackRock Inc. grew its stake in Pacific Biosciences of California by 5.0% during the second quarter. BlackRock Inc. now owns 11,698,356 shares of the biotechnology company’s stock worth $70,776,000 after buying an additional 559,753 shares during the period. Vanguard Group Inc. lifted its holdings in Pacific Biosciences of California by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,666,529 shares of the biotechnology company’s stock valued at $46,382,000 after acquiring an additional 55,322 shares during the last quarter. CNH Partners LLC lifted its holdings in Pacific Biosciences of California by 2.5% in the 1st quarter. CNH Partners LLC now owns 6,751,127 shares of the biotechnology company’s stock valued at $48,811,000 after acquiring an additional 166,229 shares during the last quarter. Alpine Associates Management Inc. lifted its holdings in Pacific Biosciences of California by 42.6% in the 1st quarter. Alpine Associates Management Inc. now owns 6,072,459 shares of the biotechnology company’s stock valued at $43,905,000 after acquiring an additional 1,814,941 shares during the last quarter. Finally, ARP Americas LP lifted its holdings in Pacific Biosciences of California by 40.6% in the 2nd quarter. ARP Americas LP now owns 4,382,622 shares of the biotechnology company’s stock valued at $26,515,000 after acquiring an additional 1,264,990 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.



PACB traded down $0.10 during midday trading on Tuesday, reaching $5.74. 510,635 shares of the company’s stock were exchanged, compared to its average volume of 1,636,463. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.00 and a quick ratio of 1.65. The stock has a market capitalization of $878.02 million, a PE ratio of -7.55 and a beta of 1.93. The business’s 50-day moving average price is $5.66 and its 200 day moving average price is $6.73. 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) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The business had revenue of $24.62 million during the quarter, compared to the consensus estimate 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%. As a group, analysts expect that Pacific Biosciences of California will post -0.64 EPS for the current fiscal year.

Pacific Biosciences of California Company Profile

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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