Pacific Biosciences of California (NASDAQ:PACB) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday, ValuEngine reports.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald set a $8.00 price objective on shares of Pacific Biosciences of California and gave the company a “hold” rating in a research note on Thursday, June 20th. BidaskClub lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Finally, Piper Jaffray Companies upgraded shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus price target of $7.63.

Shares of NASDAQ:PACB opened at $5.46 on Thursday. The firm’s 50 day moving average is $5.36 and its two-hundred day moving average is $6.20. Pacific Biosciences of California has a 52 week low of $3.90 and a 52 week high of $7.84. The firm has a market capitalization of $835.19 million, a P/E ratio of -7.18 and a beta of 1.76. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The company had revenue of $24.62 million for the quarter, compared to analyst estimates of $22.27 million. Analysts predict that Pacific Biosciences of California will post -0.64 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of PACB. Cubist Systematic Strategies LLC acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at approximately $28,000. Point72 Hong Kong Ltd acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at approximately $37,000. FNY Investment Advisers LLC increased its stake in shares of Pacific Biosciences of California by 211.1% during the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 7,600 shares during the period. Bluefin Trading LLC acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at approximately $91,000. Finally, Bank of Montreal Can increased its stake in shares of Pacific Biosciences of California by 291.6% during the second quarter. Bank of Montreal Can now owns 15,883 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 11,827 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.

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