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

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BidaskClub lowered 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 Thursday, BidAskClub reports.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Pacific Biosciences of California from a sell rating to a hold rating in a research note on Tuesday, April 16th. Cantor Fitzgerald restated a hold rating and issued a $8.00 target price on shares of Pacific Biosciences of California in a research note on Friday, May 3rd. Finally, Stephens cut Pacific Biosciences of California from an overweight rating to an equal weight rating and raised their target price for the company from $4.50 to $8.00 in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $6.11.

Shares of PACB traded down $0.04 on Thursday, reaching $6.62. The stock had a trading volume of 8,122 shares, compared to its average volume of 1,876,366. The stock has a market cap of $1.03 billion, a PE ratio of -8.71 and a beta of 2.29. The company has a quick ratio of 2.06, a current ratio of 2.50 and a debt-to-equity ratio of 0.47. Pacific Biosciences of California has a 12-month low of $3.21 and a 12-month high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Friday, May 3rd. The biotechnology company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The firm had revenue of $16.43 million during the quarter, compared to analysts’ expectations of $21.83 million. Pacific Biosciences of California had a negative net margin of 143.62% and a negative return on equity of 102.01%. Equities analysts anticipate that Pacific Biosciences of California will post -0.61 EPS for the current year.

A number of large investors have recently made changes to their positions in PACB. NumerixS Investment Technologies Inc purchased a new position in Pacific Biosciences of California during the first quarter valued at $52,000. Quantamental Technologies LLC purchased a new position in Pacific Biosciences of California during the first quarter valued at $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Pacific Biosciences of California by 37.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 2,628 shares during the last quarter. Raymond James & Associates purchased a new position in Pacific Biosciences of California during the first quarter valued at $87,000. Finally, Prudential Financial Inc. raised its stake in Pacific Biosciences of California by 21.8% during the fourth quarter. Prudential Financial Inc. now owns 12,402 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 2,220 shares during the last quarter. Institutional investors and hedge funds own 71.51% 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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