Shares of Pacific Biosciences of California (NASDAQ:PACB) have been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $8.00.

A number of research firms have recently commented on PACB. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the stock a “hold” rating in a report on Thursday, June 20th. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. BidaskClub raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, ValuEngine cut shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

Shares of PACB stock traded up $0.16 on Tuesday, reaching $5.76. The company had a trading volume of 701,100 shares, compared to its average volume of 1,733,753. The stock has a market capitalization of $856.60 million, a PE ratio of -7.58 and a beta of 1.93. The company has a quick ratio of 1.65, a current ratio of 2.00 and a debt-to-equity ratio of 0.58. Pacific Biosciences of California has a one year low of $3.90 and a one year high of $7.84. The business’s 50-day moving average is $5.68 and its 200 day moving average is $6.75.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $24.62 million during the quarter, compared to analysts’ expectations of $22.27 million. Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. On average, sell-side analysts forecast that Pacific Biosciences of California will post -0.64 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Pacific Biosciences of California by 5.0% in the 2nd quarter. BlackRock Inc. now owns 11,698,356 shares of the biotechnology company’s stock valued at $70,776,000 after buying an additional 559,753 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pacific Biosciences of California by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,666,529 shares of the biotechnology company’s stock valued at $46,382,000 after buying an additional 55,322 shares during the last quarter. CNH Partners LLC raised its holdings in Pacific Biosciences of California by 2.5% in the 1st quarter. CNH Partners LLC now owns 6,751,127 shares of the biotechnology company’s stock valued at $48,811,000 after buying an additional 166,229 shares during the last quarter. Alpine Associates Management Inc. raised its holdings in Pacific Biosciences of California by 42.6% in the 1st quarter. Alpine Associates Management Inc. now owns 6,072,459 shares of the biotechnology company’s stock valued at $43,905,000 after buying an additional 1,814,941 shares during the last quarter. Finally, ARP Americas LP raised its holdings in Pacific Biosciences of California by 40.6% in the 2nd quarter. ARP Americas LP now owns 4,382,622 shares of the biotechnology company’s stock valued at $26,515,000 after buying an additional 1,264,990 shares during the last quarter. Institutional investors and hedge funds own 73.02% of the company’s stock.

About Pacific Biosciences of California

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.

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