Pacific Biosciences of California (NASDAQ:PACB) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a report issued on Thursday morning.

Several other equities research analysts have also commented on the company. Piper Sandler upped their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. Scotiabank reduced their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. Finally, UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $2.10 on Thursday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $575.11 million, a PE ratio of -1.44 and a beta of 1.95. The firm has a fifty day simple moving average of $2.00 and a 200 day simple moving average of $1.79. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $8.48.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning increased its holdings in Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 9,516 shares during the last quarter. Water Island Capital LLC grew its holdings in Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 9,537 shares in the last quarter. Atria Investments Inc raised its position in Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its stake in Pacific Biosciences of California by 44.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 12,093 shares in 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.