Pacific Biosciences of California (NASDAQ:PACB) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Pacific Biosciences of California (NASDAQ:PACBFree Report) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $4.00 target price on the biotechnology company’s stock.

A number of other research firms also recently issued reports on PACB. Scotiabank lowered their price objective on shares of 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. Piper Sandler lowered their price objective on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a neutral rating on the stock in a report on Monday, May 13th. Sanford C. Bernstein lowered their price objective on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an outperform rating on the stock in a report on Thursday, April 18th. Barclays lowered their price objective on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an equal weight rating on the stock in a report on Friday, May 10th. Finally, TD Cowen lowered their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a buy rating on the stock in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $6.38.

Check Out Our Latest Research Report on Pacific Biosciences of California

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.87 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. The company has a market capitalization of $509.31 million, a P/E ratio of -1.64 and a beta of 2.01. The company’s 50 day moving average price is $2.27 and its two-hundred day moving average price is $5.37. Pacific Biosciences of California has a 52 week low of $1.25 and a 52 week high of $14.55.

Pacific Biosciences of California (NASDAQ:PACBGet Free Report) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The firm had revenue of $38.81 million for the quarter, compared to the consensus estimate of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. On average, analysts expect that Pacific Biosciences of California will post -0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, Director David W. Meline bought 40,000 shares of Pacific Biosciences of California stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $176,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Interchange Capital Partners LLC raised its stake in Pacific Biosciences of California by 11.9% during the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 1,991 shares in the last quarter. Private Advisor Group LLC raised its stake in Pacific Biosciences of California by 11.4% during the third quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 2,027 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Pacific Biosciences of California by 0.5% during the fourth quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock worth $5,719,000 after acquiring an additional 2,832 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in Pacific Biosciences of California by 23.6% during the third quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 3,494 shares in the last quarter. Finally, Carret Asset Management LLC raised its stake in Pacific Biosciences of California by 23.5% during the fourth quarter. Carret Asset Management LLC now owns 21,000 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 4,000 shares in the last quarter.

Pacific Biosciences of California Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Pacific Biosciences of California (NASDAQ:PACB)

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