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

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued on Wednesday.

Other research analysts have also recently issued reports about the stock. UBS Group lowered their target price on shares of 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. TD Cowen lowered their target price 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. The Goldman Sachs Group decreased their price objective on shares of Pacific Biosciences of California from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Barclays decreased their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating on the stock in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California presently has an average rating of “Moderate Buy” and an average target price of $9.05.

Pacific Biosciences of California Stock Performance

PACB stock remained flat at $1.40 during mid-day trading on Wednesday. 35,341,825 shares of the company’s stock traded hands, compared to its average volume of 9,625,326. The business has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $6.69. The company has a quick ratio of 7.21, a current ratio of 7.81 and a debt-to-equity ratio of 1.27. The firm has a market cap of $375.13 million, a PE ratio of -1.16 and a beta of 1.83. Pacific Biosciences of California has a 1 year low of $1.25 and a 1 year high of $14.55.

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

Insiders Place Their Bets

In related news, Director David W. Meline bought 40,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $176,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pacific Biosciences of California news, Director David W. Meline purchased 40,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at $176,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,359 shares of company stock valued at $218,843. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Pacific Biosciences of California

Several institutional investors have recently modified their holdings of PACB. Fairfield Bush & CO. bought a new stake in shares of Pacific Biosciences of California in the second quarter worth $27,000. Captrust Financial Advisors grew its stake in shares of Pacific Biosciences of California by 217.2% in 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. Comerica Bank bought a new stake in Pacific Biosciences of California during the third quarter valued at $46,000. KBC Group NV bought a new stake in Pacific Biosciences of California during the fourth quarter valued at $53,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Pacific Biosciences of California during the third quarter valued at $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.