BidaskClub lowered shares of Pacific Biosciences of California (NASDAQ:PACB) from a hold rating to a sell rating in a report issued on Tuesday morning, BidAskClub reports.

Several other research firms have also commented on PACB. ValuEngine lowered shares of Pacific Biosciences of California from a buy rating to a hold rating in a research report on Friday, July 19th. Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the company a hold rating in a research report on Thursday, June 20th. Finally, Zacks Investment Research raised shares of Pacific Biosciences of California from a sell rating to a hold rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Pacific Biosciences of California has a consensus rating of Hold and an average target price of $7.50.

Shares of PACB stock traded up $0.09 during trading on Tuesday, hitting $5.60. 11,569 shares of the stock traded hands, compared to its average volume of 1,162,272. The firm has a market capitalization of $853.52 million, a P/E ratio of -7.32 and a beta of 1.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.00 and a quick ratio of 1.65. The firm’s fifty day moving average price is $5.55 and its 200-day moving average price is $6.56. Pacific Biosciences of California has a 52-week low of $3.90 and a 52-week high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). The firm had revenue of $24.62 million for the quarter, compared to analyst estimates 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%. As a group, equities research analysts expect that Pacific Biosciences of California will post -0.64 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Candriam Luxembourg S.C.A. raised its position in Pacific Biosciences of California by 0.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 333,355 shares of the biotechnology company’s stock valued at $3,888,000 after purchasing an additional 2,000 shares during the period. Strs Ohio raised its position in Pacific Biosciences of California by 7.5% in the second quarter. Strs Ohio now owns 47,300 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 3,300 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Pacific Biosciences of California in the second quarter valued at approximately $28,000. Rhumbline Advisers raised its position in Pacific Biosciences of California by 3.1% in the first quarter. Rhumbline Advisers now owns 180,392 shares of the biotechnology company’s stock valued at $1,304,000 after purchasing an additional 5,364 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Pacific Biosciences of California in the second quarter valued at approximately $37,000. 69.71% of the stock is currently owned by institutional investors.

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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