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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $2.95.

Several equities analysts recently issued reports on PACB shares. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research note on Monday, November 11th.

Institutional Investors Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACB. Creative Planning lifted its stake in shares of Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Pacific Biosciences of California by 4.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock worth $322,000 after purchasing an additional 9,516 shares in the last quarter. Water Island Capital LLC boosted its holdings in shares of Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 9,537 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in shares of Pacific Biosciences of California by 44.7% in the third quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 12,093 shares during the last quarter.

Pacific Biosciences of California Trading Up 10.6 %

Shares of NASDAQ:PACB opened at $1.99 on Friday. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $9.51. The business has a 50 day moving average of $2.00 and a two-hundred day moving average of $1.77. The company has a market capitalization of $544.99 million, a PE ratio of -1.36 and a beta of 1.95.

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.