Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of “Moderate Buy” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.38.

Several research analysts have recently weighed in on the company. Barclays reduced their price objective on Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Morgan Stanley reduced their price target on Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. JPMorgan Chase & Co. downgraded shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $2.50 in a research note on Thursday, April 18th.

Institutional Investors Weigh In On Pacific Biosciences of California

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Pacific Biosciences of California in the first quarter valued at $32,000. Private Wealth Partners LLC acquired a new position in Pacific Biosciences of California in the 4th quarter valued at about $98,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Pacific Biosciences of California in the 1st quarter valued at about $38,000. Quest Partners LLC bought a new position in Pacific Biosciences of California in the 4th quarter valued at about $168,000. Finally, Kennedy Capital Management LLC acquired a new stake in Pacific Biosciences of California during the first quarter worth approximately $64,000.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.53 on Thursday. The firm’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $3.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $12.53. The firm has a market cap of $416.70 million, a P/E ratio of -1.34 and a beta of 2.05.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The firm had revenue of $38.81 million during the quarter, compared to analyst estimates of $38.78 million. On average, analysts forecast that Pacific Biosciences of California will post -0.91 EPS for the current fiscal year.

Pacific Biosciences of California Company Profile

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.