Pacific Biosciences of California (NASDAQ:PACB) Issues Earnings Results

Pacific Biosciences of California (NASDAQ:PACB) posted its earnings results on Thursday. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20), Zacks reports. Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. During the same quarter in the prior year, the company earned ($0.27) earnings per share.

Pacific Biosciences of California Price Performance

Shares of PACB traded up $0.21 during mid-day trading on Friday, reaching $1.69. The company had a trading volume of 27,203,153 shares, compared to its average volume of 11,829,938. The company’s 50 day simple moving average is $1.81 and its 200 day simple moving average is $1.80. The company has a market capitalization of $461.45 million, a price-to-earnings ratio of -1.16 and a beta of 1.92. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $6.83. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Wall Street Analysts Forecast Growth

PACB has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Stephens reiterated an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a research report on Friday. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research report on Monday, November 11th. Finally, Piper Sandler increased their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average price target of $2.85.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.