Wall Street Analyst Initiated Pacific Biosciences of California Inc. [PACB]. What else is Wall St. saying

Pacific Biosciences of California Inc. [NASDAQ: PACB] slipped around -0.13 points on Thursday, while shares priced at $8.77 at the close of the session, down -1.46%. The company report on March 7, 2023 that PacBio To Begin Commercial Shipment of Revio Systems.

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Broad Commercialization and Scale-Up of Revio Enables Researchers with 15 Times More HiFi Data and High-Quality Human Genomes for Under $1,000.

PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the first customer shipments of Revio long-read sequencing systems will commence on March 8, 2023. As previously announced, the Revio system features significant advances in SMRT Cell design, compute, and system architecture. Together, this enables a dramatic increase in throughput and lower sequencing costs with the trusted power of HiFi chemistry, which offers exceptional accuracy and direct methylation detection.

Pacific Biosciences of California Inc. stock is now 7.21% up from its year-to-date (YTD) trading value. PACB Stock saw the intraday high of $9.01 and lowest of $8.54 per share. The company’s 52-week high price is 14.20, which means current price is +12.87% above from all time high which was touched on 01/18/23.

Compared to the average trading volume of 4.12M shares, PACB reached a trading volume of 5676293 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 $12.12 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 0.66, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 16.19. The Price to Book ratio for the last quarter was 3.52, with the Price to Cash per share for the same quarter was set at 3.26.

How has PACB stock performed recently?

Pacific Biosciences of California Inc. [PACB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.00. With this latest performance, PACB shares dropped by -22.04% in over the last four-week period, additionally plugging by 49.66% over the last 6 months – not to mention a drop of -17.65% 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 39.89, with the RSI for the last a single of trading hit 37.23, and the three-weeks RSI is set at 42.58 for Pacific Biosciences of California Inc. [PACB]. The present Moving Average for the last 50 days of trading for this stock 10.04, while it was recorded at 9.14 for the last single week of trading, and 7.57 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 -234.12 and a Gross Margin at +42.25. Pacific Biosciences of California Inc.’s Net Margin is presently recorded at -244.92.

Return on Equity for this stock declined to -46.42, with Return on Assets sitting at -16.65.

Pacific Biosciences of California Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.20.

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

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%.

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

There are presently around $1,993 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; VANGUARD GROUP INC, holding 20,279,035 shares of the stock with an approximate value of $177.85 million in PACB stocks shares; and BLACKROCK INC., currently with $162.56 million in PACB stock with ownership of nearly 3.5% of the company’s market capitalization.

Positions in Pacific Biosciences of California Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 114 institutional holders increased their position in Pacific Biosciences of California Inc. [NASDAQ:PACB] by around 40,862,324 shares. Additionally, 109 investors decreased positions by around 33,447,118 shares, while 47 investors held positions by with 152,933,306 shares. The mentioned changes placed institutional holdings at 227,242,748 shares, according to the latest SEC report filing. PACB stock had 48 new institutional investments in for a total of 30,326,223 shares, while 30 institutional investors sold positions of 7,008,443 shares during the same period.


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