Pacific Biosciences of California (NASDAQ:PACB) Announces Quarterly Earnings Results

Pacific Biosciences of California (NASDAQ:PACB) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20), Zacks reports. Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. During the same period last year, the company earned ($0.27) EPS.

Pacific Biosciences of California Stock Performance

Shares of PACB traded up $0.21 during midday trading on Friday, reaching $1.69. The stock had a trading volume of 27,203,153 shares, compared to its average volume of 11,829,938. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The firm has a 50 day simple moving average of $1.81 and a 200-day simple moving average of $1.80. The firm has a market cap of $461.45 million, a PE ratio of -1.16 and a beta of 1.92. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.83.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PACB. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. The Goldman Sachs Group cut their price target on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Scotiabank decreased their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Monday, November 11th. Finally, Stephens reaffirmed an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and an average target price of $2.85.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by company insiders.

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.