Pacific Biosciences of California (PACB) Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Pacific Biosciences of California (NASDAQ:PACB) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on PACB. CL King lowered shares of Pacific Biosciences of California from a buy rating to a neutral rating and set a $6.80 price target on the stock. in a report on Thursday, September 28th. First Analysis lowered shares of Pacific Biosciences of California from an overweight rating to an equal weight rating and set a $4.00 price target on the stock. in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Pacific Biosciences of California from a sell rating to a hold rating in a report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Pacific Biosciences of California has an average rating of Hold and an average price target of $6.27.

Shares of Pacific Biosciences of California (NASDAQ PACB) traded up $0.20 during mid-day trading on Friday, reaching $2.72. 1,521,526 shares of the company were exchanged, compared to its average volume of 1,166,850. Pacific Biosciences of California has a fifty-two week low of $2.51 and a fifty-two week high of $5.74. The company has a market capitalization of $316.20, a price-to-earnings ratio of -2.96 and a beta of 1.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The business had revenue of $23.54 million for the quarter, compared to analyst estimates of $28.29 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Pacific Biosciences of California’s revenue was down 6.3% compared to the same quarter last year. equities analysts anticipate that Pacific Biosciences of California will post -0.89 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Pacific Biosciences of California by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock valued at $13,988,000 after buying an additional 283,216 shares during the period. Maverick Capital Ltd. increased its holdings in Pacific Biosciences of California by 16.9% in the 2nd quarter. Maverick Capital Ltd. now owns 10,603,944 shares of the biotechnology company’s stock valued at $37,750,000 after buying an additional 1,530,070 shares during the period. HighTower Advisors LLC increased its holdings in Pacific Biosciences of California by 35.1% in the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 7,225 shares during the period. State Street Corp boosted its stake in shares of Pacific Biosciences of California by 7.5% in the 2nd quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock valued at $5,419,000 after purchasing an additional 106,607 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in shares of Pacific Biosciences of California by 52.4% in the 2nd quarter. Kennedy Capital Management Inc. now owns 1,240,391 shares of the biotechnology company’s stock valued at $4,416,000 after purchasing an additional 426,269 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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