Pacific Biosciences of California (PACB) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) from a strong sell rating to a sell rating in a research report released on Thursday.

Other analysts also recently issued reports about the company. First Analysis downgraded Pacific Biosciences of California from an overweight rating to an equal weight rating and set a $4.00 target price on the stock. in a research note on Friday, November 3rd. Zacks Investment Research upgraded Pacific Biosciences of California from a sell rating to a hold rating in a research note on Thursday, November 9th. Finally, CL King downgraded Pacific Biosciences of California from a buy rating to a neutral rating and set a $6.80 target price on the stock. in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Pacific Biosciences of California presently has an average rating of Hold and an average price target of $6.27.

Pacific Biosciences of California (NASDAQ PACB) opened at $2.67 on Thursday. Pacific Biosciences of California has a 52-week low of $2.61 and a 52-week high of $5.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75. The firm has a market capitalization of $289.77, a P/E ratio of -2.93 and a beta of 1.75.

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

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Pacific Biosciences of California by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after buying an additional 2,650 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Pacific Biosciences of California by 0.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock worth $1,669,000 after buying an additional 3,970 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Pacific Biosciences of California by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after buying an additional 5,145 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Pacific Biosciences of California by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after buying an additional 6,218 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in shares of Pacific Biosciences of California by 2.3% in the 2nd quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock worth $1,015,000 after buying an additional 6,274 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

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About Pacific Biosciences of California

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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