Pacific Biosciences of California (NASDAQ:PACB) received a $8.00 price objective from equities research analysts at Cantor Fitzgerald in a research note issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 92.77% from the company’s previous close.

A number of other analysts have also commented on PACB. BidaskClub raised Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 23rd. Piper Jaffray Companies reissued a “hold” rating and set a $3.80 price objective on shares of Pacific Biosciences of California in a report on Friday, August 3rd. Finally, Zacks Investment Research raised Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Tuesday, July 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.01.

Shares of PACB opened at $4.15 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.33 and a quick ratio of 3.28. The company has a market cap of $713.81 million, a price-to-earnings ratio of -4.77 and a beta of 2.13. Pacific Biosciences of California has a 52 week low of $2.02 and a 52 week high of $5.82.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $21.58 million during the quarter, compared to analyst estimates of $24.45 million. Pacific Biosciences of California had a negative return on equity of 95.29% and a negative net margin of 100.09%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) EPS. Analysts expect that Pacific Biosciences of California will post -0.67 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Pacific Biosciences of California by 7.8% in the first quarter. BlackRock Inc. now owns 8,792,739 shares of the biotechnology company’s stock valued at $18,023,000 after acquiring an additional 637,115 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Pacific Biosciences of California by 21.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 518,737 shares of the biotechnology company’s stock valued at $1,064,000 after acquiring an additional 91,535 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Pacific Biosciences of California by 38.1% in the second quarter. Point72 Asset Management L.P. now owns 2,900,000 shares of the biotechnology company’s stock valued at $10,295,000 after acquiring an additional 800,000 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Pacific Biosciences of California by 9.8% in the first quarter. Northern Trust Corp now owns 1,323,140 shares of the biotechnology company’s stock valued at $2,713,000 after acquiring an additional 118,214 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Pacific Biosciences of California by 72.8% in the first quarter. UBS Group AG now owns 301,726 shares of the biotechnology company’s stock valued at $619,000 after acquiring an additional 127,112 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc engages in the research, development, and manufacture of sequencing systems for genetic analysis. It operates through the following geographical segments: North America, Europe, and Asia Pacific (including the Middle East). The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.

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