Pacific Biosciences of California, Inc. (NASDAQ:PACB) Position Raised by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 64.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,782 shares of the biotechnology company’s stock after buying an additional 8,168 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Pacific Biosciences of California were worth $204,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PACB. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Pacific Biosciences of California during the third quarter valued at $59,000. EMC Capital Management increased its holdings in shares of Pacific Biosciences of California by 191.6% during the third quarter. EMC Capital Management now owns 15,600 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 10,251 shares during the period. Ascension Capital Advisors Inc. acquired a new position in shares of Pacific Biosciences of California during the third quarter valued at $132,000. Interchange Capital Partners LLC increased its holdings in shares of Pacific Biosciences of California by 32.1% during the third quarter. Interchange Capital Partners LLC now owns 16,718 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 4,058 shares during the period. Finally, FDx Advisors Inc. increased its holdings in shares of Pacific Biosciences of California by 31.3% during the third quarter. FDx Advisors Inc. now owns 18,366 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 4,378 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Wednesday, April 17th. UBS Group lowered their target price on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Barclays lowered their target price on Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a report on Monday. Finally, Scotiabank lowered their target price on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.77.

Pacific Biosciences of California Trading Down 7.5 %

Shares of PACB opened at $1.36 on Thursday. The business’s 50-day moving average price is $3.86 and its 200 day moving average price is $6.46. The stock has a market capitalization of $364.41 million, a P/E ratio of -1.12 and a beta of 1.83. Pacific Biosciences of California, Inc. has a 1-year low of $1.25 and a 1-year high of $14.55. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27.

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

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the firm’s 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 completion of the sale, the insider now directly owns 876,611 shares in the company, valued at approximately $5,224,601.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David W. Meline purchased 40,000 shares of Pacific Biosciences of California stock in a transaction dated 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 acquisition, the director now directly owns 40,000 shares in the company, valued at $176,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oene Mark Van sold 33,560 shares of Pacific Biosciences of California stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the sale, the insider now owns 876,611 shares of the company’s stock, valued at $5,224,601.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,359 shares of company stock worth $218,843. 1.40% of the stock is currently owned by company insiders.

Pacific Biosciences of California Profile

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.