Pacific Biosciences of California (NASDAQ:PACB) Given “Overweight” Rating at Cantor Fitzgerald

Pacific Biosciences of California (NASDAQ:PACB)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $3.50 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 135.69% from the stock’s previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group started coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They set a “buy” rating and a $4.00 price objective for the company. Sanford C. Bernstein decreased their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Barclays decreased their price target on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Morgan Stanley decreased their price objective on shares of Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Finally, TD Cowen decreased their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus target price of $4.75.

Pacific Biosciences of California Trading Down 2.9 %

PACB traded down $0.05 during trading on Thursday, hitting $1.49. The company’s stock had a trading volume of 3,928,633 shares, compared to its average volume of 9,885,281. The firm’s 50 day moving average price is $1.69 and its 200-day moving average price is $3.11. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36. The stock has a market cap of $404.45 million, a PE ratio of -1.30 and a beta of 2.05. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $12.53.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.26% and a negative net margin of 148.13%. On average, analysts expect that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On Pacific Biosciences of California

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of Pacific Biosciences of California by 0.5% during the fourth quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock worth $5,719,000 after purchasing an additional 2,832 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Pacific Biosciences of California by 19.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 21,793 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 3,513 shares during the last quarter. Carret Asset Management LLC lifted its position in shares of Pacific Biosciences of California by 23.5% during the fourth quarter. Carret Asset Management LLC now owns 21,000 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 4,000 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of Pacific Biosciences of California by 4.4% during the second 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 during the last quarter. Finally, Swiss National Bank lifted its position in shares of Pacific Biosciences of California by 1.3% during the first quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 6,200 shares during the last quarter.

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.