Pacific Biosciences of California (NASDAQ:PACB) Given New $1.50 Price Target at The Goldman Sachs Group

Pacific Biosciences of California (NASDAQ:PACB) had its price target reduced by The Goldman Sachs Group from $1.75 to $1.50 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on PACB. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Friday, February 14th. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a report on Monday, November 11th. Scotiabank decreased their price objective on shares of 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. Stephens restated an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, Piper Sandler lifted their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.79.

Pacific Biosciences of California Stock Down 7.3 %

Shares of NASDAQ:PACB opened at $1.64 on Tuesday. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.09. The company has a 50 day moving average of $1.77 and a 200-day moving average of $1.79. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The stock has a market cap of $449.13 million, a price-to-earnings ratio of -1.00 and a beta of 1.92.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $39.22 million during the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter in the previous year, the company earned ($0.27) EPS. On average, sell-side analysts forecast that Pacific Biosciences of California will post -0.71 earnings per share for the current year.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction on Friday, January 10th. The shares were 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 of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now directly owns 187,592 shares in the company, valued at approximately $352,672.96. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Pacific Biosciences of California

A number of institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank bought a new stake in Pacific Biosciences of California during the fourth quarter worth $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Pacific Biosciences of California by 7.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock worth $1,010,000 after acquiring an additional 38,103 shares in the last quarter. Two Sigma Advisers LP raised its position in Pacific Biosciences of California by 19.8% during the fourth quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock worth $307,000 after acquiring an additional 27,800 shares in the last quarter. Two Sigma Investments LP raised its position in Pacific Biosciences of California by 139.4% during the fourth quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company’s stock worth $2,038,000 after acquiring an additional 648,407 shares in the last quarter. Finally, Softbank Group CORP. bought a new stake in Pacific Biosciences of California during the fourth quarter worth $37,426,000.

Pacific Biosciences of California Company Profile

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.