Pacific Biosciences of California Inc. (NASDAQ:PACB)’s share price was down 8.2% during trading on Wednesday . The company traded as low as $7.40 and last traded at $7.74, with a volume of 1,213,681 shares changing hands. The stock had previously closed at $8.43.

A number of equities analysts have recently commented on PACB shares. Vetr cut shares of Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating and set a $10.42 target price on the stock. in a report on Monday, April 25th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $18.00 target price on shares of Pacific Biosciences of California in a report on Wednesday, June 29th. CL King started coverage on shares of Pacific Biosciences of California in a report on Monday, June 27th. They issued a “buy” rating and a $11.00 target price on the stock. Zacks Investment Research raised shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, April 11th. Finally, MKM Partners started coverage on shares of Pacific Biosciences of California in a report on Friday, April 15th. They issued a “neutral” rating and a $16.50 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $11.89.

The company has a 50 day moving average of $7.98 and a 200 day moving average of $8.98. The company’s market cap is $768.83 million.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, August 4th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The firm earned $20.70 million during the quarter, compared to analyst estimates of $20.19 million. Pacific Biosciences of California’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. Equities research analysts predict that Pacific Biosciences of California Inc. will post ($0.86) earnings per share for the current fiscal year.

In related news, SVP James Michael Phillips sold 20,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $8.45, for a total transaction of $169,000.00. Following the sale, the senior vice president now owns 198,949 shares of the company’s stock, valued at $1,681,119.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Several large investors have modified their holdings of PACB. Russell Frank Co acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $1,155,000. California State Teachers Retirement System increased its stake in shares of Pacific Biosciences of California by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 112,214 shares of the company’s stock worth $1,473,000 after buying an additional 1,998 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Pacific Biosciences of California by 27.0% in the fourth quarter. Swiss National Bank now owns 84,446 shares of the company’s stock worth $1,109,000 after buying an additional 17,946 shares in the last quarter.

Pacific Biosciences of California Inc designs, develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Company’s Single Molecule, Real-Time (SMRT) technology, its products enable de novo genome assembly to finish genomes in order to more fully identify, annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes, characterize alternatively spliced isoforms and find genes; targeted sequencing to more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage.

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