Tuesday, March 9, 2021

Pacific Biosciences of California Inc. [PACB] is 25.49% higher this YTD. Is it still time to buy?

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Pacific Biosciences of California Inc. [NASDAQ: PACB] price plunged by -3.15 percent to reach at -$0.21. The company report on August 12, 2020 that Pacific Biosciences of California, Inc. Announces Pricing of Public Offering of Common Stock.

Pacific Biosciences of California, Inc. (Nasdaq: PACB) (“Pacific Biosciences” or the “Company”) today announced that it has priced its previously announced underwritten public offering of 19,430,000 shares of its common stock at a price to the public of $4.47 per share. The offering is expected to close on or about August 14, 2020 subject to satisfaction of customary closing conditions. Pacific Biosciences also granted the underwriters a 30-day option to purchase up to an additional 2,914,500 shares of its common stock at the public offering price, less underwriting discounts and commissions. Before deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive gross proceeds of approximately $86.9 million, assuming no exercise of the underwriters’ option to purchase additional shares.


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Morgan Stanley & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co. is also acting as a book-running manager for the offering.

A sum of 3366804 shares traded at recent session while its average daily volume was at 1.73M shares. Pacific Biosciences of California Inc. shares reached a high of $6.73 and dropped to a low of $6.13 until finishing in the latest session at $6.45.

The one-year PACB stock forecast points to a potential downside of -1.9. The average equity rating for PACB stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Pacific Biosciences of California Inc. [PACB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACB shares is $6.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACB stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Pacific Biosciences of California Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 02, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on March 09, 2020, representing the official price target for Pacific Biosciences of California Inc. stock. Previously, the target price had yet another raise to $8, while Piper Jaffray analysts kept a Overweight rating on PACB stock. On April 02, 2019, analysts increased their price target for PACB shares from 4.50 to 8.

The Average True Range (ATR) for Pacific Biosciences of California Inc. is set at 0.34, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 13.42. The Price to Book ratio for the last quarter was 23.89, with the Price to Cash per share for the same quarter was set at 0.70. Price to Free Cash Flow for PACB in the course of the last twelve months was 75.31 with Quick ratio for the last quarter at 1.00.

PACB Stock Performance Analysis:

Pacific Biosciences of California Inc. [PACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.37. With this latest performance, PACB shares gained by 70.63% in over the last four-week period, additionally plugging by 90.83% over the last 6 months – not to mention a rise of 15.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PACB stock in for the last two-week period is set at 78.42, with the RSI for the last a single of trading hit 77.74, and the three-weeks RSI is set at 75.09 for Pacific Biosciences of California Inc. [PACB]. The present Moving Average for the last 50 days of trading for this stock 4.32, while it was recorded at 6.52 for the last single week of trading, and 4.15 for the last 200 days.

Insight into Pacific Biosciences of California Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Pacific Biosciences of California Inc. [PACB] shares currently have an operating margin of -110.62 and a Gross Margin at +38.04. Pacific Biosciences of California Inc.’s Net Margin is presently recorded at -92.57.

Return on Total Capital for PACB is now -81.97, given the latest momentum, and Return on Invested Capital for the company is -74.59. Return on Equity for this stock declined to -99.58, with Return on Assets sitting at -52.87. When it comes to the capital structure of this company, Pacific Biosciences of California Inc. [PACB] has a Total Debt to Total Equity ratio set at 112.30. Additionally, PACB Total Debt to Total Capital is recorded at 52.90, with Total Debt to Total Assets ending up at 41.67. Long-Term Debt to Equity for the company is recorded at 76.41, with the Long-Term Debt to Total Capital now at 35.99.

Reflecting on the efficiency of the workforce at the company, Pacific Biosciences of California Inc. [PACB] managed to generate an average of -$208,252 per employee. Receivables Turnover for the company is 7.62 with a Total Asset Turnover recorded at a value of 0.57.Pacific Biosciences of California Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

PACB Stock EPS

With the latest financial reports released by the company, Pacific Biosciences of California Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -26.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PACB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pacific Biosciences of California Inc. go to 30.00%.

Pacific Biosciences of California Inc. [PACB] Insider Position Details

There are presently around $722 million, or 79.10% of PACB stock, in the hands of institutional investors. The top three institutional holders of PACB stocks are: BLACKROCK INC. with ownership of 13,343,578, which is approximately 3.964% of the company’s market cap and around 1.80% of the total institutional ownership; BELLEVUE GROUP AG, holding 8,363,741 shares of the stock with an approximate value of $53.95 million in PACB stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $53.09 million in PACB stock with ownership of nearly 96.312% of the company’s market capitalization.

Positions in Pacific Biosciences of California Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 82 institutional holders increased their position in Pacific Biosciences of California Inc. [NASDAQ:PACB] by around 12,682,906 shares. Additionally, 52 investors decreased positions by around 18,517,153 shares, while 32 investors held positions by with 80,684,021 shares. The mentioned changes placed institutional holdings at 111,884,080 shares, according to the latest SEC report filing. PACB stock had 34 new institutional investments in for a total of 1,500,801 shares, while 14 institutional investors sold positions of 5,268,817 shares during the same period.

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