Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.90.

PACB has been the subject of a number of research analyst reports. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Wednesday, March 20th. Wolfe Research began coverage on Pacific Biosciences of California in a research report on Wednesday, December 13th. They set a “peer perform” rating on the stock. Guggenheim began coverage on Pacific Biosciences of California in a research report on Thursday, December 14th. They set a “neutral” rating on the stock. UBS Group cut their price target on 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 16th. Finally, Stephens began coverage on Pacific Biosciences of California in a research report on Thursday, December 14th. They set an “overweight” rating and a $11.00 price target on the stock.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $3.75 on Friday. The firm has a market cap of $1.00 billion, a PE ratio of -3.10 and a beta of 1.87. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27. The stock has a fifty day moving average price of $5.40 and a 200-day moving average price of $7.33. Pacific Biosciences of California has a 12 month low of $3.45 and a 12 month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. The company had revenue of $58.36 million during the quarter, compared to analyst estimates of $57.96 million. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The firm’s quarterly revenue was up 113.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. Equities research analysts predict that Pacific Biosciences of California will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David W. Meline acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $176,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Oene Mark Van sold 31,012 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $7.77, for a total value of $240,963.24. Following the sale, the insider now directly owns 910,171 shares in the company, valued at approximately $7,072,028.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David W. Meline bought 40,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at $176,000. The disclosure for this purchase can be found here. In the last three months, insiders have sold 68,371 shares of company stock worth $459,806. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PACB. Goldman Sachs Group Inc. lifted its stake in Pacific Biosciences of California by 190.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,438,572 shares of the biotechnology company’s stock worth $37,299,000 after purchasing an additional 5,533,953 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Pacific Biosciences of California by 15.7% during the 4th quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock valued at $338,487,000 after buying an additional 4,681,833 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Pacific Biosciences of California by 68.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,284,090 shares of the biotechnology company’s stock valued at $45,456,000 after buying an additional 4,179,997 shares during the period. Vanguard Group Inc. raised its position in shares of Pacific Biosciences of California by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock valued at $262,806,000 after buying an additional 3,514,792 shares during the period. Finally, Bellevue Group AG raised its position in shares of Pacific Biosciences of California by 214.3% during the 1st quarter. Bellevue Group AG now owns 4,881,752 shares of the biotechnology company’s stock valued at $44,424,000 after buying an additional 3,328,729 shares during the period.

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.