Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) insider Michele Farmer sold 5,165 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $12.59, for a total transaction of $65,027.35. Following the completion of the transaction, the insider now directly owns 107,577 shares of the company’s stock, valued at $1,354,394.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Pacific Biosciences of California Stock Performance
PACB opened at $12.67 on Monday. Pacific Biosciences of California, Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $14.20. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.69 and a quick ratio of 3.46. The stock has a fifty day moving average of $10.76 and a 200-day moving average of $10.17.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last posted its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. Pacific Biosciences of California had a negative return on equity of 47.46% and a negative net margin of 239.32%. The company had revenue of $38.90 million during the quarter, compared to the consensus estimate of $34.38 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. On average, research analysts forecast that Pacific Biosciences of California, Inc. will post -1.24 EPS for the current year.
Institutional Investors Weigh In On Pacific Biosciences of California
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on PACB. Barclays began coverage on shares of Pacific Biosciences of California in a research note on Wednesday, May 10th. They issued an “equal weight” rating and a $14.00 target price for the company. TD Cowen raised Pacific Biosciences of California from a “market perform” rating to an “outperform” rating and raised their price target for the company from $13.00 to $15.00 in a report on Friday, March 31st. Piper Sandler raised their price target on Pacific Biosciences of California from $10.00 to $13.00 in a report on Monday, May 8th. SpectralCast reaffirmed a “maintains” rating on shares of Pacific Biosciences of California in a report on Wednesday, May 3rd. Finally, UBS Group started coverage on Pacific Biosciences of California in a report on Thursday, February 2nd. They set a “neutral” rating and a $13.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and a consensus price target of $12.75.
About Pacific Biosciences of California
Pacific Biosciences of California, Inc engages in the development, manufacture, and marketing of advanced sequencing solutions for genetic analysis. It operates through the following geographical segments: America, Europe, Middle East, and Africa, and Asia Pacific. The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.
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