Pacific Biosciences of California (NASDAQ:PACB) Upgraded to “Sell” at StockNews.com

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

PACB has been the subject of a number of other research reports. UBS Group lowered their target price on Pacific Biosciences of California from $12.50 to $12.00 and set a buy rating for the company in a report on Friday, February 16th. TD Cowen reduced their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a buy rating on the stock in a research report on Wednesday. The Goldman Sachs Group reduced their price target on Pacific Biosciences of California from $9.00 to $7.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Finally, Barclays reduced their price target on Pacific Biosciences of California from $8.00 to $3.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $9.05.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $1.40 on Wednesday. The business has a fifty day moving average of $4.36 and a two-hundred day moving average of $6.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. Pacific Biosciences of California has a twelve month low of $1.25 and a twelve month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share 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%. Pacific Biosciences of California’s revenue was up 113.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) earnings per share. On average, research analysts predict that Pacific Biosciences of California will post -1.01 EPS for the current fiscal year.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.96, for a total value of $200,017.60. Following the transaction, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the sale, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David W. Meline purchased 40,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $176,000. The disclosure for this purchase can be found here. Insiders have sold a total of 37,359 shares of company stock valued at $218,843 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PACB. Fairfield Bush & CO. purchased a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth about $27,000. Captrust Financial Advisors boosted its stake in shares of Pacific Biosciences of California by 217.2% during the 2nd quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 4,220 shares in the last quarter. Comerica Bank purchased a new stake in shares of Pacific Biosciences of California during the 3rd quarter worth about $46,000. KBC Group NV purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth about $53,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Pacific Biosciences of California during the 3rd quarter worth about $59,000.

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.