Pacific Biosciences of California (PACB) Receives New Coverage from Analysts at Cowen

Pacific Biosciences of California (PACB) Receives New Coverage from Analysts at Cowen

Cowen started coverage on shares of Pacific Biosciences of California (NASDAQ:PACB) in a research report sent to investors on Friday, October 19th, Marketbeat.com reports. The brokerage issued an outperform rating and a $6.50 price target on the biotechnology company’s stock.

Several other equities research analysts also recently commented on PACB. BidaskClub raised shares of Pacific Biosciences of California from a buy rating to a strong-buy rating in a research note on Saturday, June 23rd. Piper Jaffray Companies reaffirmed a hold rating and issued a $3.80 target price on shares of Pacific Biosciences of California in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a hold rating to a buy rating and set a $4.25 price target for the company in a report on Tuesday, July 24th. Finally, Cantor Fitzgerald began coverage on shares of Pacific Biosciences of California in a report on Wednesday, August 8th. They issued an overweight rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $5.64.

Shares of NASDAQ PACB traded up $0.01 during trading on Friday, reaching $7.65. The company had a trading volume of 3,472,800 shares, compared to its average volume of 1,693,782. The company has a current ratio of 6.65, a quick ratio of 5.74 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.15 billion, a PE ratio of -8.79 and a beta of 2.45. Pacific Biosciences of California has a 52 week low of $2.02 and a 52 week high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). The business had revenue of $18.16 million for the quarter, compared to the consensus estimate of $22.39 million. Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The company’s quarterly revenue was down 22.9% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.67 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Pacific Biosciences of California by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 12,061 shares during the last quarter. Rhumbline Advisers boosted its holdings in Pacific Biosciences of California by 17.0% during the second quarter. Rhumbline Advisers now owns 116,960 shares of the biotechnology company’s stock worth $415,000 after purchasing an additional 17,005 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Pacific Biosciences of California during the third quarter worth $107,000. Swiss National Bank boosted its holdings in Pacific Biosciences of California by 17.3% during the third quarter. Swiss National Bank now owns 224,246 shares of the biotechnology company’s stock worth $1,213,000 after purchasing an additional 33,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Pacific Biosciences of California during the third quarter worth $212,000. Institutional investors own 62.68% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

See Also: What is a closed-end mutual fund (CEF)?

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Pacific Biosciences of California (PACB) Received New Coverage from Analysts at Cowen

Cowen started coverage on shares of Pacific Biosciences of California (NASDAQ:PACB) in a research report sent to investors on Friday, October 19th, Marketbeat.com reports. The brokerage issued an outperform rating and a $6.50 price target on the biotechnology company’s stock.

Pacific Biosciences of California logo

Several other equities research analysts also recently commented on PACB. BidaskClub raised shares of Pacific Biosciences of California from a buy rating to a strong-buy rating in a research note on Saturday, June 23rd. Piper Jaffray Companies reaffirmed a hold rating and issued a $3.80 target price on shares of Pacific Biosciences of California in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a hold rating to a buy rating and set a $4.25 price target for the company in a report on Tuesday, July 24th. Finally, Cantor Fitzgerald began coverage on shares of Pacific Biosciences of California in a report on Wednesday, August 8th. They issued an overweight rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $5.64.

Shares of NASDAQ PACB traded up $0.01 during trading on Friday, reaching $7.65. The company had a trading volume of 3,472,800 shares, compared to its average volume of 1,693,782. The company has a current ratio of 6.65, a quick ratio of 5.74 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.15 billion, a PE ratio of -8.79 and a beta of 2.45. Pacific Biosciences of California has a 52 week low of $2.02 and a 52 week high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). The business had revenue of $18.16 million for the quarter, compared to the consensus estimate of $22.39 million. Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The company’s quarterly revenue was down 22.9% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.67 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Pacific Biosciences of California by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 12,061 shares during the last quarter. Rhumbline Advisers boosted its holdings in Pacific Biosciences of California by 17.0% during the second quarter. Rhumbline Advisers now owns 116,960 shares of the biotechnology company’s stock worth $415,000 after purchasing an additional 17,005 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Pacific Biosciences of California during the third quarter worth $107,000. Swiss National Bank boosted its holdings in Pacific Biosciences of California by 17.3% during the third quarter. Swiss National Bank now owns 224,246 shares of the biotechnology company’s stock worth $1,213,000 after purchasing an additional 33,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Pacific Biosciences of California during the third quarter worth $212,000. Institutional investors own 62.68% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

See Also: What is a closed-end mutual fund (CEF)?

Related posts

Leave a Comment