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

Posted by on Jun 2nd, 2022

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.29.

A number of equities research analysts have recently commented on PACB shares. Canaccord Genuity Group lowered their price target on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. Piper Sandler decreased their target price on shares of Pacific Biosciences of California from $13.00 to $6.00 and set a “na” rating on the stock in a research report on Sunday, May 15th. StockNews.com assumed coverage on shares of Pacific Biosciences of California in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Canaccord Genuity Group decreased their target price on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. Finally, Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $7.00 target price on the stock. in a research report on Tuesday, April 26th.

Shares of NASDAQ PACB opened at $5.13 on Thursday. The company has a market cap of $1.15 billion, a PE ratio of -6.33 and a beta of 1.43. Pacific Biosciences of California has a 12 month low of $4.51 and a 12 month high of $36.36. The company has a debt-to-equity ratio of 1.22, a current ratio of 16.87 and a quick ratio of 16.38. The company has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $12.66.

Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). The firm had revenue of $33.17 million for the quarter, compared to analysts’ expectations of $32.82 million. Pacific Biosciences of California had a negative return on equity of 36.11% and a negative net margin of 130.14%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) earnings per share. On average, analysts anticipate that Pacific Biosciences of California will post -1.38 EPS for the current year.

A number of hedge funds have recently made changes to their positions in PACB. First Horizon Advisors Inc. acquired a new position in Pacific Biosciences of California during the fourth quarter valued at approximately $25,000. TFC Financial Management lifted its position in Pacific Biosciences of California by 714.3% during the fourth quarter. TFC Financial Management now owns 1,425 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 1,250 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Pacific Biosciences of California by 94.5% during the first quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,767 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter valued at approximately $62,000. Finally, Concord Wealth Partners raised its stake in shares of Pacific Biosciences of California by 222.2% during the fourth quarter. Concord Wealth Partners now owns 3,328 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 2,295 shares during the period. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Biosciences of California Company Profile (Get Rating)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template 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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