Pacific Biosciences of California Inc. (PACB) Trading Down 1%
Pacific Biosciences of California Inc. (NASDAQ:PACB)’s share price traded down 1% during mid-day trading on Friday . The stock traded as low as $8.13 and last traded at $8.22, with a volume of 460,687 shares trading hands. The stock had previously closed at $8.30.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Cantor Fitzgerald reissued a “buy” rating and set a $18.00 price target on shares of Pacific Biosciences of California in a report on Wednesday, June 29th. Finally, CL King assumed coverage on shares of Pacific Biosciences of California in a report on Monday, June 27th. They set a “buy” rating and a $11.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.96.
The company has a 50 day moving average of $8.36 and a 200 day moving average of $8.67. The firm’s market cap is $760.73 million.
Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $20.70 million for the quarter, compared to analyst estimates of $20.19 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, equities analysts anticipate that Pacific Biosciences of California Inc. will post ($0.85) EPS for the current year.
In related 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 value of $169,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through 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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