UBS lifts Pacific Biosciences of California Inc. [PACB] price estimate. Who else is bullish?

Pacific Biosciences of California Inc. [NASDAQ: PACB] loss -0.71% or -0.08 points to close at $11.25 with a heavy trading volume of 3780160 shares. The company report on February 7, 2023 that PacBio to Expand MAS-Seq Technology to 16S rRNA and Bulk RNA-Seq Solutions.

End-to-End Solutions Planned to Support Key Customer Applications With Increased Cost Flexibility on Long-Read Sequencing Systems.

PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the commencement of a program intended to expand Multiplexed Arrays Sequencing (MAS-Seq) for new assays on the Sequel II/IIe and Revio™ sequencing systems. This program builds on the successful MAS-Seq concatenation technology launched last year that enabled cost-effective single-cell isoform sequencing.

It opened the trading session at $11.35, the shares rose to $11.40 and dropped to $10.86, the range by which the price of stock traded the whole day. The daily chart for PACB points out that the company has recorded 63.04% gains over the past six months. However, it is still -192.21% lower than its most recent low trading price.

If we look at the average trading volume of 4.56M shares, PACB reached to a volume of 3780160 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $12.25 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.

UBS 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 February 02, 2023. The new note on the price target was released on January 20, 2023, representing the official price target for Pacific Biosciences of California Inc. stock. Previously, the target price had yet another raise to $12, while Scotiabank analysts kept a Sector Outperform rating on PACB stock. On January 21, 2022, analysts decreased their price target for PACB shares from 62 to 31.

The Average True Range (ATR) for Pacific Biosciences of California Inc. is set at 0.81, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 20.94. The Price to Book ratio for the last quarter was 4.05, with the Price to Cash per share for the same quarter was set at 3.27.

Trading performance analysis for PACB stock

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 1.44. With this latest performance, PACB shares gained by 33.93% in over the last four-week period, additionally plugging by 63.04% over the last 6 months – not to mention a rise of 3.69% 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 54.70, with the RSI for the last a single of trading hit 51.80, and the three-weeks RSI is set at 55.51 for Pacific Biosciences of California Inc. [PACB]. The present Moving Average for the last 50 days of trading for this stock 10.02, while it was recorded at 11.53 for the last single week of trading, and 7.19 for the last 200 days.

Pacific Biosciences of California Inc. [PACB]: A deeper dive into fundamental analysis

Pacific Biosciences of California Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.70 and a Current Ratio set at 11.20.

Pacific Biosciences of California Inc. [PACB]: An earnings per share (EPS) analysis

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 -1.00%.

An analysis of insider ownership at Pacific Biosciences of California Inc. [PACB]

There are presently around $2,353 million, or 88.90% 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 25,691,681, which is approximately -10.459% of the company’s market cap and around 0.80% of the total institutional ownership; JACKSON SQUARE PARTNERS, LLC, holding 20,258,099 shares of the stock with an approximate value of $227.9 million in PACB stocks shares; and VANGUARD GROUP INC, currently with $221.2 million in PACB stock with ownership of nearly -7.435% of the company’s market capitalization.

Positions in Pacific Biosciences of California Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 104 institutional holders increased their position in Pacific Biosciences of California Inc. [NASDAQ:PACB] by around 26,469,734 shares. Additionally, 113 investors decreased positions by around 50,151,569 shares, while 45 investors held positions by with 132,577,359 shares. The mentioned changes placed institutional holdings at 209,198,662 shares, according to the latest SEC report filing. PACB stock had 46 new institutional investments in for a total of 18,602,138 shares, while 35 institutional investors sold positions of 7,345,653 shares during the same period.