BidaskClub lowered shares of Pacific Biosciences of California (NASDAQ:PACB) from a hold rating to a sell rating in a report published on Thursday.

PACB has been the subject of a number of other reports. Cowen downgraded shares of Pacific Biosciences of California from an outperform rating to a market perform rating in a research note on Friday, January 4th. ValuEngine downgraded shares of Pacific Biosciences of California from a strong-buy rating to a buy rating in a research note on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $5.64.

PACB opened at $7.36 on Thursday. The company has a quick ratio of 4.23, a current ratio of 4.90 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.11 billion, a P/E ratio of -9.68 and a beta of 2.41. Pacific Biosciences of California has a fifty-two week low of $2.02 and a fifty-two week high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Monday, February 11th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.08). The business had revenue of $19.53 million for the quarter, compared to the consensus estimate of $21.08 million. Pacific Biosciences of California had a negative return on equity of 94.50% and a negative net margin of 130.44%. On average, equities research analysts anticipate that Pacific Biosciences of California will post -0.56 earnings per share for the current fiscal year.

In other Pacific Biosciences of California news, CEO Michael Hunkapiller sold 13,335 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $7.19, for a total value of $95,878.65. Following the completion of the sale, the chief executive officer now owns 2,388,750 shares of the company’s stock, valued at $17,175,112.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan K. Barnes sold 11,987 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $7.16, for a total transaction of $85,826.92. Following the completion of the sale, the chief financial officer now directly owns 729,407 shares of the company’s stock, valued at approximately $5,222,554.12. The disclosure for this sale can be found here. Insiders sold 39,486 shares of company stock valued at $283,261 in the last ninety days. Insiders own 13.40% of the company’s stock.

Large investors have recently modified their holdings of the business. Hudock Capital Group LLC bought a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $29,000. Vanguard Group Inc increased its stake in Pacific Biosciences of California by 6.4% in the third quarter. Vanguard Group Inc now owns 6,311,846 shares of the biotechnology company’s stock valued at $34,148,000 after purchasing an additional 377,272 shares in the last quarter. Kassirer Asset Management Corp bought a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $1,354,000. MetLife Investment Advisors LLC increased its stake in Pacific Biosciences of California by 53.4% in the third quarter. MetLife Investment Advisors LLC now owns 90,137 shares of the biotechnology company’s stock valued at $488,000 after purchasing an additional 31,390 shares in the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $547,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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