Your Home Your story reservation Pacific Biosciences of California (NASDAQ:PACB) lifted to “sell” on StockNews.com

Pacific Biosciences of California (NASDAQ:PACB) lifted to “sell” on StockNews.com

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Pacific Biosciences of California (NASDAQ:PACB – Get a Free Report) was upgraded to a “sell” rating by StockNews.com research analysts in a report issued Tuesday.

Other analysts also recently published reports on the stock. Barclays lowered its price target on shares of California-based Pacific Biosciences from $3.00 to $2.00 and set an “equalweight” rating for the company in a report on Friday. UBS Group lowered their target price on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Friday, February 16. Scotiabank lowered their target price on shares of Pacific Biosciences of California from $15.00 to $8.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 18. Piper Sandler lowered its price target on shares of California-based Pacific Biosciences from $6.50 to $2.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, TD Cowen lowered their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research report on Wednesday, April 17. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, California-based Pacific Biosciences currently has an average rating of “Hold” and an average price target of $7.14.

Get our latest research report on PACB

Pacific Biosciences of California Price Performance

NASDAQ:PACB was up $0.30 during trading hours on Tuesday, hitting $2.23. The stock had a trading volume of 26,339,169 shares, compared to its average volume of 10,239,212. The company has a 50-day simple moving average of $2.84 and a two-hundred-day simple moving average of $5.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36. California-based Pacific Biosciences has a one-year low of $1.25 and a one-year high of $14.55. The company has a market cap of $607.36 million, a price-to-earnings ratio of -1.96 and a beta of 1.99.

Pacific Biosciences of California (NASDAQ:PACB – Get Free Report) last reported its quarterly results on Thursday, May 9. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). California-based Pacific Biosciences had a negative net margin of 148.13% and a negative return on equity of 40.26%. The company had revenue of $38.81 million during the quarter, compared to the consensus estimate of $38.78 million. Research analysts predict that California-based Pacific Biosciences will post -1 earnings per share for the current fiscal year.

Insider transactions at California-based Pacific Biosciences

In related news, Director David W. Meline acquired 40,000 shares of stock in a transaction that occurred on Wednesday, March 6. The shares were purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $176,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission and available through the SEC’s website. In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares of the company’s stock, valued at $5,224,601.56. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, director David W. Meline acquired 40,000 shares of Pacific Biosciences of California in a transaction dated Wednesday, March 6. The shares were purchased at an average cost of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at $176,000. The explanation for this purchase can be found here. In the last 90 days, insiders have sold 37,359 shares of the company’s stock worth $218,843. Corporate insiders own 1.40% of the company’s shares.

Institutional trading in California-based Pacific Biosciences

A number of hedge funds and other institutional investors have recently changed their holdings in the company. Interchange Capital Partners LLC increased its holdings in shares of California-based Pacific Biosciences by 11.9% in the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 1,991 shares in the last quarter. Private Advisor Group LLC increased its position in shares of California-based Pacific Biosciences by 11.4% during the third quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 2,027 shares during the last quarter. BNP Paribas Financial Markets increased its position in California-based Pacific Biosciences shares by 0.5% during the fourth quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock worth $5,719,000 after acquiring an additional 2,832 shares during the last quarter. Zurcher Kantonalbank Zürich Cantonalbank strengthened its position in shares of California-based Pacific Biosciences by 6.1% during the third quarter. Zurcher Kantonalbank Zürich Cantonalbank now owns 58,886 shares of the biotechnology company’s stock worth $492,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of California-based Pacific Biosciences by 23.6% during the third quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 3,494 shares in the last quarter.

About Pacific Biosciences from California

(Get a free report)

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing solutions to solve genetically complex problems. The company supplies sequencing systems; consumables, including single molecule real-time (SMRT) technology; long red sequence; and various reagent kits designed for a specific workflow, such as a preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents such as ligase, buffers and exonucleases.

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Analyst recommendations for Pacific Biosciences of California (NASDAQ:PACB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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