Shares of Pacific Biosciences of California (NASDAQ:PACB) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $6.60.

A number of analysts have recently commented on the company. BidaskClub raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Stephens lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $4.50 to $8.00 in a report on Tuesday, April 2nd. ValuEngine lowered Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, Cowen lowered Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a report on Friday, January 4th.

In other Pacific Biosciences of California news, CEO Michael Hunkapiller sold 13,335 shares of Pacific Biosciences of California stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $7.19, for a total value of $95,878.65. Following the sale, the chief executive officer now owns 2,388,750 shares of the company’s stock, valued at approximately $17,175,112.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan K. Barnes sold 11,987 shares of Pacific Biosciences of California stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $7.16, for a total value of $85,826.92. Following the completion of the sale, the chief financial officer now directly owns 729,407 shares in the company, valued at approximately $5,222,554.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,486 shares of company stock worth $283,261. Corporate insiders own 13.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PACB. JPMorgan Chase & Co. boosted its holdings in Pacific Biosciences of California by 48.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock valued at $199,000 after purchasing an additional 12,061 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Pacific Biosciences of California by 12.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 546,299 shares of the biotechnology company’s stock valued at $2,955,000 after purchasing an additional 58,409 shares in the last quarter. BlackRock Inc. boosted its holdings in Pacific Biosciences of California by 3.4% in the 3rd quarter. BlackRock Inc. now owns 9,972,840 shares of the biotechnology company’s stock valued at $53,953,000 after purchasing an additional 330,666 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at approximately $2,436,000. Finally, Virtu Financial LLC purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at approximately $212,000. 67.09% of the stock is currently owned by institutional investors.

Pacific Biosciences of California stock traded down $0.04 during midday trading on Wednesday, reaching $7.33. The company’s stock had a trading volume of 877,197 shares, compared to its average volume of 1,544,785. Pacific Biosciences of California has a fifty-two week low of $2.21 and a fifty-two week high of $7.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.90 and a quick ratio of 4.23. The stock has a market cap of $1.10 billion, a PE ratio of -9.61 and a beta of 2.39.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Monday, February 11th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.08). Pacific Biosciences of California had a negative net margin of 130.44% and a negative return on equity of 94.50%. The business had revenue of $19.53 million during the quarter, compared to analyst estimates of $21.08 million. On average, research analysts expect that Pacific Biosciences of California will post -0.56 earnings per share for the current fiscal year.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

Recommended Story: What are the benefits of investing in REITs?

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.