Pacific Biosciences of California Inc. (NASDAQ:PACB)’s share price was down 1% on Friday . The company traded as low as $8.13 and last traded at $8.22, with a volume of 460,687 shares. The stock had previously closed at $8.30.

A number of equities analysts have weighed in on PACB shares. Cantor Fitzgerald reaffirmed 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. CL King started coverage on Pacific Biosciences of California in a research report on Monday, June 27th. They set a “buy” rating and a $11.00 price target for the company. Finally, Zacks Investment Research raised Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $11.96.

The company’s market cap is $760.73 million. The stock has a 50 day moving average price of $8.35 and a 200 day moving average price of $8.67.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, August 4th. The company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The business earned $20.70 million during the quarter, compared to the consensus estimate of $20.19 million. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, equities analysts forecast that Pacific Biosciences of California Inc. will post ($0.85) earnings per share for the current year.

In other Pacific Biosciences of California news, SVP James Michael Phillips sold 20,000 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $8.45, for a total value 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 $1,681,119.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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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