Pacific Biosciences of California (PACB) Upgraded to Sell by BidaskClub

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also commented on PACB. Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. First Analysis lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research note on Friday, November 3rd. Finally, CL King lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price target for the company. in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $6.27.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at $2.90 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 current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 0.10.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates 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 firm posted ($0.19) earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. analysts anticipate that Pacific Biosciences of California will post -0.88 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Pacific Biosciences of California by 2.6% in the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after acquiring an additional 2,650 shares during the period. Mutual of America Capital Management LLC lifted its stake in Pacific Biosciences of California by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock worth $1,669,000 after acquiring an additional 3,970 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Pacific Biosciences of California by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 5,145 shares during the period. Voya Investment Management LLC lifted its stake in Pacific Biosciences of California by 17.5% in the second quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 6,218 shares during the period. Finally, Stephens Inc. AR lifted its position in Pacific Biosciences of California by 2.3% during the second quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock valued at $1,015,000 after buying an additional 6,274 shares during the period. 70.51% of the stock is owned by institutional investors.

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Pacific Biosciences of California Company Profile

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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