Trading Report: The Pacific Biosciences of California Inc. (NASDAQ:PACB) Receives $12.85 Consensus Target Price from Analysts

The Pacific Biosciences of California Inc. (NASDAQ:PACB) Receives $12.85 Consensus Target Price from Analysts

Shares of Pacific Biosciences of California Inc. (NASDAQ:PACB) have received an average recommendation of “Buy” from the ten analysts that are covering the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $12.85.

PACB has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $18.00 price objective on shares of Pacific Biosciences of California in a research report on Wednesday, June 29th. CL King initiated coverage on Pacific Biosciences of California in a research report on Monday, June 27th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Investment Research raised Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Tuesday, August 9th.

In related news, SVP James Michael Phillips sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $8.45, for a total value of $169,000.00. Following the completion of the transaction, the senior vice president now directly owns 198,949 shares of the company’s stock, valued at $1,681,119.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PACB. Bridger Management LLC acquired a new position in shares of Pacific Biosciences of California during the first quarter worth about $34,823,000. BlackRock Group LTD boosted its stake in shares of Pacific Biosciences of California by 5.7% in the first quarter. BlackRock Group LTD now owns 321,298 shares of the company’s stock worth $2,731,000 after buying an additional 17,397 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Pacific Biosciences of California by 80.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the company’s stock worth $7,650,000 after buying an additional 400,000 shares in the last quarter. Barclays PLC boosted its stake in shares of Pacific Biosciences of California by 79.9% in the first quarter. Barclays PLC now owns 83,445 shares of the company’s stock worth $668,000 after buying an additional 37,065 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Pacific Biosciences of California by 8.0% in the second quarter. California State Teachers Retirement System now owns 159,794 shares of the company’s stock worth $1,124,000 after buying an additional 11,874 shares in the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at 8.87 on Friday. The company’s 50-day moving average is $8.71 and its 200-day moving average is $8.73. The stock’s market cap is $814.93 million. Pacific Biosciences of California has a 1-year low of $6.76 and a 1-year high of $14.00.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, August 4th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company earned $20.70 million during the quarter, compared to the consensus estimate of $20.19 million. Pacific Biosciences of California had a negative return on equity of 77.61% and a negative net margin of 41.57%. Pacific Biosciences of California’s revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. Equities analysts expect that Pacific Biosciences of California will post ($0.85) EPS for the current fiscal year.

Related posts

Leave a Comment