Pacific Biosciences of California (NASDAQ:PACB) Upgraded at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note issued to investors on Wednesday morning.

Several other research analysts have also recently issued reports on PACB. Piper Sandler increased their price objective on shares of Pacific Biosciences of California from $10.00 to $13.00 in a report on Monday, May 8th. Cantor Fitzgerald reissued a neutral rating and set a $14.00 target price on shares of Pacific Biosciences of California in a research note on Tuesday, August 22nd. Morgan Stanley increased their target price on shares of Pacific Biosciences of California from $12.00 to $13.00 and gave the company an equal weight rating in a research note on Thursday, August 3rd. SpectralCast reissued a maintains rating on shares of Pacific Biosciences of California in a research note on Wednesday, May 3rd. Finally, The Goldman Sachs Group began coverage on shares of Pacific Biosciences of California in a research note on Friday, June 30th. They set a buy rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $13.89.

Pacific Biosciences of California Trading Up 1.2 %

NASDAQ PACB opened at $11.41 on Wednesday. Pacific Biosciences of California has a 52 week low of $4.97 and a 52 week high of $14.55. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -8.45 and a beta of 1.66. The company has a 50-day moving average price of $12.23 and a two-hundred day moving average price of $11.49.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.06. Pacific Biosciences of California had a negative net margin of 218.43% and a negative return on equity of 46.47%. The firm had revenue of $47.57 million during the quarter, compared to analysts’ expectations of $40.12 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. Pacific Biosciences of California’s quarterly revenue was up 34.1% on a year-over-year basis. As a group, equities research analysts expect that Pacific Biosciences of California will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pacific Biosciences of California

Large investors have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Pacific Biosciences of California in the second quarter valued at approximately $27,000. AXS Investments LLC acquired a new position in Pacific Biosciences of California during the first quarter worth $68,000. Captrust Financial Advisors boosted its holdings in Pacific Biosciences of California by 217.2% during the second quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 4,220 shares during the last quarter. EMC Capital Management boosted its holdings in Pacific Biosciences of California by 272.7% during the first quarter. EMC Capital Management now owns 8,200 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 6,000 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in Pacific Biosciences of California by 251.4% during the fourth quarter. CI Investments Inc. now owns 9,041 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 6,468 shares during the last quarter.

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.