Pacific Biosciences of California Inc. (NASDAQ:PACB) rose 2.1% during mid-day trading on Wednesday . The stock traded as high as $8.66 and last traded at $8.64, with a volume of 887,015 shares traded. The stock had previously closed at $8.46.

PACB has been the subject of several recent analyst reports. Vetr cut Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating and set a $10.42 target price for the company. in a research note on Monday, April 25th. Zacks Investment Research raised Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, April 26th. CL King started coverage on Pacific Biosciences of California in a research note on Monday, June 27th. They set a “buy” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald restated a “buy” rating and set a $18.00 price target on shares of Pacific Biosciences of California in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $11.67.

The company’s market capitalization is $814.01 million. The stock’s 50-day moving average price is $8.00 and its 200-day moving average price is $8.77.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $20.70 million for the quarter, compared to analyst estimates of $20.19 million. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Equities research analysts anticipate that Pacific Biosciences of California Inc. will post ($0.85) EPS for the current year.

In other news, SVP James Michael Phillips sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 198,949 shares in the company, valued at approximately $1,681,119.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

An institutional investor recently raised its position in Pacific Biosciences of California stock. Swiss National Bank boosted its position in Pacific Biosciences of California Inc. (NASDAQ:PACB) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,446 shares of the company’s stock after buying an additional 17,946 shares during the period. Swiss National Bank owned approximately 0.11% of Pacific Biosciences of California worth $1,109,000 as of its most recent filing with the SEC.

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

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