Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Free Report) insider Christian O. Henry sold 96,844 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $10.12, for a total value of $980,061.28. Following the completion of the sale, the insider now owns 1,106,095 shares in the company, valued at $11,193,681.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Pacific Biosciences of California Stock Down 2.7 %
Pacific Biosciences of California stock traded down $0.26 during midday trading on Tuesday, hitting $9.42. The company’s stock had a trading volume of 5,627,288 shares, compared to its average volume of 3,886,328. The stock’s 50-day moving average price is $11.78 and its 200-day moving average price is $11.60. Pacific Biosciences of California, Inc. has a 12 month low of $4.97 and a 12 month high of $14.55. The company has a market capitalization of $2.36 billion, a PE ratio of -6.98 and a beta of 1.65.
Pacific Biosciences of California (NASDAQ:PACB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.06. The firm had revenue of $47.57 million for the quarter, compared to analysts’ expectations of $40.12 million. Pacific Biosciences of California had a negative net margin of 218.43% and a negative return on equity of 46.47%. Pacific Biosciences of California’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. As a group, equities analysts anticipate that Pacific Biosciences of California, Inc. will post -1.18 EPS for the current year.
Hedge Funds Weigh In On Pacific Biosciences of California
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on PACB shares. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Wednesday, August 30th. The Goldman Sachs Group began coverage on shares of Pacific Biosciences of California in a research note on Friday, June 30th. They set a “buy” rating and a $17.00 price objective on the stock. KGI Securities began coverage on shares of Pacific Biosciences of California in a research note on Wednesday, June 7th. They set an “outperform” rating on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $14.00 price objective on shares of Pacific Biosciences of California in a research note on Tuesday, August 22nd. Finally, Morgan Stanley lifted their price objective on shares of Pacific Biosciences of California from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus target price of $13.89.
Pacific Biosciences of California Company Profile
Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.
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