Barclays Issues Positive Forecast for Pacific Biosciences of California (NASDAQ:PACB) Stock Price

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) had its price objective increased by Barclays from $1.50 to $2.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the biotechnology company's stock. Barclays's price objective suggests a potential downside of 5.53% from the company's previous close.Deciphering Disruption: Inside Cathie Wood's Latest PlaysSeveral other research analysts have also recently weighed in on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Piper Sandler raised their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Finally, Stephens upped their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the company an "overweight" rating in a research note on Monday, November 10th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $2.08.Check Out Our Latest Report on PACBPacific Biosciences of California Price PerformanceStrategic Buy Lights Up This Biotech Stock: Time to Invest?Pacific Biosciences of California stock traded down $0.00 during trading on Monday, reaching $2.12. The company had a trading volume of 3,061,417 shares, compared to its average volume of 9,222,505. The firm's 50-day simple moving average is $1.97 and its 200 day simple moving average is $1.55. Pacific Biosciences of California has a 1-year low of $0.85 and a 1-year high of $2.72. The firm has a market capitalization of $639.14 million, a PE ratio of -0.96 and a beta of 2.32. The company has a debt-to-equity ratio of 17.88, a quick ratio of 5.40 and a current ratio of 6.24. Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $3.34 million for the quarter. Pacific Biosciences of California had a negative return on equity of 101.49% and a negative net margin of 325.02%. As a group, equities research analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year. Hedge Funds Weigh In On Pacific Biosciences of CaliforniaSeveral hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC grew its position in shares of Pacific Biosciences of California by 5.2% during the third quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company's stock worth $169,000 after acquiring an additional 6,564 shares during the last quarter. Rhumbline Advisers boosted its stake in Pacific Biosciences of California by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company's stock worth $532,000 after purchasing an additional 8,532 shares during the period. Cetera Investment Advisers grew its position in Pacific Biosciences of California by 10.1% during the 2nd quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company's stock worth $130,000 after purchasing an additional 9,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Pacific Biosciences of California by 47.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company's stock valued at $37,000 after purchasing an additional 9,739 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of Pacific Biosciences of California by 6.5% in the third quarter. Raymond James Financial Inc. now owns 161,865 shares of the biotechnology company's stock valued at $207,000 after buying an additional 9,896 shares during the last quarter. About Pacific Biosciences of California (Get Free Report)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.Further ReadingFive stocks we like better than Pacific Biosciences of CaliforniaAsset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?Is Nutanix the Best Comeback Trade Left in 2025? The Setup Says Yes3 Stocks to Consider Buying in OctoberThe Vertiv Pullback: Ignore the Noise, Buy the Data3 Home Improvement Stocks that Can Upgrade Your PortfolioInsiders Buy Natural Gas Stocks: 2 for the WatchlistThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Pacific Biosciences of California Right Now?Before you consider Pacific Biosciences of California, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pacific Biosciences of California wasn't on the list.While Pacific Biosciences of California currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here