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California Pacific Biosciences (NASDAQ: PACB) BidaskClub's investment badysts downgraded the "buy" rating to a "hold" rating in a research note issued on Wednesday, October 3rd.
Several other research companies have also recently taken a position on PACB. Cantor Fitzgerald began hedging Pacific Biosciences of California shares in a research report on Wednesday, August 8th. They set an "overweight" rating and a $ 5.00 price target for the stock. The Piper Jaffray companies have reiterated their "maintenance" and set a price target of $ 3.80 on the shares of Pacific Biosciences of California in a research report released Friday, August 3. Finally, Zacks Investment Research narrowed Pacific Biosciences of California's stock from "buy" to "conserve" in a research report released on Monday, Aug. 6. Five badysts badigned a retention rating and two badigned a purchase price to the company. The title currently has an average rating of "Conserve" and a consensus target price of $ 5.31.
NASDAQ: PACB rose $ 0.09 in Wednesday's session to $ 4.09. 1,133,531 shares were traded, compared with an average volume of 1,223,508. Pacific Biosciences of California has a minimum of one year of $ 2.02 and a maximum of one year of $ 5.82. The market capitalization of the stock is $ 527.77 million, its price / earnings ratio of -4.70 and its beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.33 and a fast ratio of 3.28.
Pacific Biosciences of California (NASDAQ: PACB) released its quarterly results on Thursday, August 2nd. The biotech company posted earnings per share (EPS) of $ 0.17 for the quarter, which is in line with Thomson Reuters consensus estimate of ($ 0.17). The company generated $ 21.58 million in sales for the quarter, while badysts expected $ 24.45 million. Pacific Biosciences of California had a negative return on equity of 95.29% and a negative net margin of 100.09%. The company's turnover increased 7.5% year-over-year. In the same quarter last year, the company reported earnings per share of $ 0.26. On average, badysts on the sellers' side expect Pacific Biosciences of California to post EPS of -0.67 for the current year.
Several hedge funds have recently increased or reduced their stake in the stock. Rhumbline Advisers increased its holdings in Pacific Biosciences of California by 17.0% in the second quarter. Rhumbline Advisers now holds 116,960 shares in the US $ 415,000 biotech company after buying 17,005 additional shares in the last quarter. Aperio Group LLC increased its equity interest in Pacific Biosciences of California by 76.8% in the first quarter. Aperio Group LLC now holds 50,120 shares in the biotechnology company worth US $ 103,000 after purchasing 21,775 additional shares in the last quarter. The Swiss National Bank increased its stake in Pacific Biosciences of California shares by 13.4% in the first quarter. The Swiss National Bank now holds 191,246 shares in the biotechnology company worth US $ 392,000 after purchasing 22,600 additional shares in the last quarter. Moloney Securities Asset Management LLC increased its stake in Pacific Biosciences of California by 9.2% in the third quarter. Moloney Securities Asset Management LLC now holds 467,961 shares of the biotech company worth US $ 2,532,000 after purchasing 39,500 additional shares in the last quarter. Lastly, MetLife Investment Advisors LLC strengthened its position in Pacific Biosciences of California by 343.5% in the first quarter. MetLife Investment Advisors LLC now holds 58,747 shares of the $ 120,000 biotechnology company after acquiring an additional 45,502 shares in the last quarter. 70.59% of the capital is owned by institutional investors and hedge funds.
Pacific Biosciences of California Company Profile
Pacific Biosciences of California, Inc. designs, develops and manufactures sequencing systems to solve genetically complex problems. The Company's Single Molecule Real Time (SMRT) sequencing technology enables the real-time detection of a single molecule of biological processes. It offers PacBio RS II and Sequel Systems that drive, monitor and badyze the biochemical reactions of a single molecule in real time.
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