Monday, January 18, 2021

Piper Sandler slashes price target on Pacific Biosciences of California Inc. [PACB] – find out why.

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Pacific Biosciences of California Inc. [NASDAQ: PACB] traded at a high on 11/27/20, posting a 6.12 gain after which it closed the day’ session at $15.43. The company report on November 11, 2020 that Pacific Biosciences of California, Inc. Announces Pricing of Public Offering of Common Stock.

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Pacific Biosciences of California, Inc. (Nasdaq: PACB) (“Pacific Biosciences” or the “Company”) announced that it has priced its previously announced underwritten public offering of an aggregate of 7,400,460 shares of its common stock at a price to the public of $14.25 per share. Pacific Biosciences is offering 6,096,112 shares of its common stock in the offering, and the selling stockholder is offering 1,304,348 shares of the Company’s common stock in the offering. The offering is expected to close on or about November 13, 2020 subject to satisfaction of customary closing conditions. Pacific Biosciences also granted the underwriters a 30-day option to purchase up to an additional 914,416 shares of its common stock at the public offering price, less underwriting discounts and commissions, and the selling stockholder granted the underwriters a 30-day option to purchase up to an additional 195,652 shares of the Company’s 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 and Cowen are acting as joint book-running managers for the offering. Cantor is also acting as a book-running manager for the offering.

The results of the trading session contributed to over 2327709 shares changing hands. Over the past one week, the price volatility of Pacific Biosciences of California Inc. stands at 5.02% while the volatility over the past one month is 7.74%.

The market cap for PACB stock reached $2.70 billion, with 187.22 million shares outstanding and 178.29 million shares in the current float. Compared to the average trading volume of 4.23M shares, PACB reached a trading volume of 2327709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $14.00 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 2.60. 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.

Piper Sandler have made an estimate for Pacific Biosciences of California Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 03, 2020. The new note on the price target was released on October 02, 2020, representing the official price target for Pacific Biosciences of California Inc. stock. Previously, the target price had yet another raise to $7, while Morgan Stanley analysts kept a Equal-Weight rating on PACB stock.

The Average True Range (ATR) for Pacific Biosciences of California Inc. is set at 1.02, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 33.94. The Price to Book ratio for the last quarter was 19.78, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for PACB in the course of the last twelve months was 186.54 with Quick ratio for the last quarter at 1.70.

How has PACB stock performed recently?

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 0.52. With this latest performance, PACB shares gained by 10.45% in over the last four-week period, additionally plugging by 334.65% over the last 6 months – not to mention a rise of 201.96% 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 59.91, with the RSI for the last a single of trading hit 57.93, and the three-weeks RSI is set at 60.42 for Pacific Biosciences of California Inc. [PACB]. The present Moving Average for the last 50 days of trading for this stock 13.13, while it was recorded at 14.88 for the last single week of trading, and 6.34 for the last 200 days.

Pacific Biosciences of California Inc. [PACB]: Deeper insight into the 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 1.70 and a Current Ratio set at 1.80.

Earnings analysis for Pacific Biosciences of California Inc. [PACB]

With the latest financial reports released by the company, Pacific Biosciences of California Inc. posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. 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%.

Insider trade positions for Pacific Biosciences of California Inc. [PACB]

There are presently around $2,358 million, or 95.30% of PACB stock, in the hands of institutional investors. The top three institutional holders of PACB stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 19,844,780, which is approximately 141.084% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 14,419,191 shares of the stock with an approximate value of $222.49 million in PACB stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $165.72 million in PACB stock with ownership of nearly 58.025% of the company’s market capitalization.

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Positions in Pacific Biosciences of California Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 113 institutional holders increased their position in Pacific Biosciences of California Inc. [NASDAQ:PACB] by around 67,350,409 shares. Additionally, 71 investors decreased positions by around 26,417,014 shares, while 19 investors held positions by with 59,043,640 shares. The mentioned changes placed institutional holdings at 152,811,063 shares, according to the latest SEC report filing. PACB stock had 52 new institutional investments in for a total of 37,434,419 shares, while 30 institutional investors sold positions of 8,003,237 shares during the same period.

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