Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Average Rating of “Hold” by Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $3.63.

A number of equities analysts have weighed in on PACB shares. Morgan Stanley decreased their target price on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, November 12th. 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. Canaccord Genuity Group lowered their price target on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Piper Sandler increased their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.83 on Wednesday. The company’s fifty day moving average price is $1.91 and its 200-day moving average price is $1.76. The stock has a market cap of $501.16 million, a PE ratio of -1.25 and a beta of 1.95. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $10.65.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC purchased a new stake in Pacific Biosciences of California during the first quarter valued at $98,000. Simplicity Wealth LLC purchased a new position in shares of Pacific Biosciences of California during the 2nd quarter worth $29,000. SG Americas Securities LLC grew its position in shares of Pacific Biosciences of California by 96.6% during the 2nd quarter. SG Americas Securities LLC now owns 42,078 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 20,677 shares during the period. Clear Harbor Asset Management LLC increased its stake in shares of Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Pacific Biosciences of California in the 2nd quarter worth $1,775,000.

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.