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

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has received an average recommendation of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.63.

Several analysts recently weighed in on PACB shares. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a report on Monday, November 11th. Piper Sandler boosted their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. Morgan Stanley dropped their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group decreased their price objective on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Scotiabank dropped their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th.

Insider Transactions at Pacific Biosciences of California

In related news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. This represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently made changes to their positions in PACB. BNP Paribas Financial Markets raised its holdings in Pacific Biosciences of California by 100.3% during the first quarter. BNP Paribas Financial Markets now owns 1,167,708 shares of the biotechnology company’s stock worth $4,379,000 after purchasing an additional 584,734 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Pacific Biosciences of California by 50.0% in the first quarter. Nordea Investment Management AB now owns 214,155 shares of the biotechnology company’s stock valued at $815,000 after buying an additional 71,398 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Pacific Biosciences of California in the first quarter valued at $38,000. Quantbot Technologies LP boosted its stake in Pacific Biosciences of California by 330.4% during the first quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock valued at $333,000 after buying an additional 68,195 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Pacific Biosciences of California during the first quarter worth about $80,000.

Pacific Biosciences of California Trading Down 14.0 %

NASDAQ PACB opened at $1.60 on Friday. The company’s fifty day moving average price is $1.92 and its two-hundred day moving average price is $1.77. The company has a market capitalization of $436.81 million, a price-to-earnings ratio of -1.09 and a beta of 2.01. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $10.65. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14.

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.