Pacific Biosciences of California (NASDAQ:PACB) Shares Gap Up – Should You Buy?

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) gapped up before the market opened on Friday . The stock had previously closed at $1.94, but opened at $2.07. Pacific Biosciences of California shares last traded at $2.1450, with a volume of 4,497,718 shares.

Analyst Upgrades and Downgrades

PACB has been the topic of several research analyst reports. Wall Street Zen upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their price target on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a “neutral” rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus target price of $1.90.

Pacific Biosciences of California Stock Up 20.6%

The company has a debt-to-equity ratio of 10.51, a current ratio of 6.92 and a quick ratio of 6.02. The firm has a market cap of $702.87 million, a price-to-earnings ratio of -1.02 and a beta of 2.10. The firm has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.33.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. The firm had revenue of $3.34 million for the quarter. As a group, equities analysts predict that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Pacific Biosciences of California

Several hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its stake in Pacific Biosciences of California by 1.2% in the first quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company’s stock valued at $43,045,000 after buying an additional 434,079 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in Pacific Biosciences of California by 2.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 21,855,180 shares of the biotechnology company’s stock valued at $25,789,000 after buying an additional 508,700 shares during the period. Vanguard Group Inc. lifted its stake in Pacific Biosciences of California by 6.8% in the first quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company’s stock valued at $19,191,000 after buying an additional 1,036,606 shares during the period. Geode Capital Management LLC lifted its stake in Pacific Biosciences of California by 6.4% in the second quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company’s stock valued at $8,333,000 after buying an additional 401,637 shares during the period. Finally, Koss Olinger Consulting LLC lifted its stake in Pacific Biosciences of California by 10.0% in the second quarter. Koss Olinger Consulting LLC now owns 3,300,000 shares of the biotechnology company’s stock valued at $4,092,000 after buying an additional 300,000 shares during the period.

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.