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

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) had its target price hoisted by research analysts at Stephens from $1.80 to $2.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Stephens' price objective points to a potential upside of 11.48% from the company's previous close.

• Deciphering Disruption: Inside Cathie Wood's Latest Plays

A number of other analysts have also weighed in on the company. Piper Sandler raised their target price on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a "neutral" rating in a research note on Monday, August 11th. Wall Street Zen upgraded Pacific Biosciences of California from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Pacific Biosciences of California in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1.93.

View Our Latest Analysis on PACB

Pacific Biosciences of California Price Performance

• Strategic Buy Lights Up This Biotech Stock: Time to Invest?

Shares of Pacific Biosciences of California stock opened at $1.79 on Monday. Pacific Biosciences of California has a twelve month low of $0.85 and a twelve month high of $2.66. The company has a debt-to-equity ratio of 10.51, a quick ratio of 6.02 and a current ratio of 6.92. The firm has a market cap of $538.87 million, a P/E ratio of -0.78 and a beta of 2.30. The firm's 50-day simple moving average is $1.55 and its 200-day simple moving average is $1.36.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. As a group, research analysts expect that Pacific Biosciences of California will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jump Financial LLC bought a new position in Pacific Biosciences of California during the first quarter worth about $25,000. Cim Investment Management Inc. lifted its holdings in shares of Pacific Biosciences of California by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 12,822 shares during the period. SteelPeak Wealth LLC lifted its stake in Pacific Biosciences of California by 95.6% during the third quarter. SteelPeak Wealth LLC now owns 29,930 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 14,626 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted 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 buying an additional 9,739 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Pacific Biosciences of California by 73.0% in the second quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company's stock valued at $44,000 after acquiring an additional 15,062 shares during the last quarter.

About Pacific Biosciences of California

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.

Recommended Stories

• Five stocks we like better than Pacific Biosciences of California
• The 3 Best Fintech Stocks to Buy Now
• 2 Reasons to Buy Into Lam’s 185% Rally, 1 Reason to Run Away
• What is a Death Cross in Stocks?
• 3 Alternative Energy ETFs That Are Crushing the Market This Year
• Why Understanding Call Option Volume is Essential to Successful Options Trading
• 3 Big Earnings Misses: Is It Time to Buy the Dip?

This 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