Pacific Biosciences of California, Inc. (PACB) Rating Reiterated by Cantor Fitzgerald, Report finds

Pacific Biosciences of California, Inc. (PACB) Rating Reiterated by Cantor Fitzgerald, Report finds

Cantor Fitzgerald restated their buy rating on shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in a research note published on Friday morning. They currently have a $8.00 price objective on the stock.

“Solid 4Q16 results despite lower than-expected Sequel bookings. The company reported total revenues of $25.7M, $2.5M above our estimate of $23.2M and $2.7M above FactSet consensus of $23.0M. System revenue beat due to strong placements in the quarter, slightly offset by lower-than-expected consumable revenue.”,” the firm’s analyst wrote.

Other analysts have also issued reports about the company. Zacks Investment Research raised Pacific Biosciences of California from a hold rating to a buy rating and set a $10.00 target price on the stock in a report on Tuesday, October 25th. J P Morgan Chase & Co reaffirmed a hold rating and set a $12.00 target price on shares of Pacific Biosciences of California in a report on Thursday, November 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $11.27.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at 4.84 on Friday. Pacific Biosciences of California has a 1-year low of $3.76 and a 1-year high of $10.75. The firm has a 50-day moving average price of $4.57 and a 200-day moving average price of $7.26. The company’s market cap is $448.56 million.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 2nd. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $25.70 million for the quarter, compared to analyst estimates of $22.84 million. Pacific Biosciences of California had a negative return on equity of 75.50% and a negative net margin of 81.99%. Pacific Biosciences of California’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. On average, equities analysts expect that Pacific Biosciences of California will post ($0.85) EPS for the current year.

Institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $526,000. Tocqueville Asset Management L.P. increased its position in shares of Pacific Biosciences of California by 2.9% in the second quarter. Tocqueville Asset Management L.P. now owns 25,000 shares of the company’s stock worth $176,000 after buying an additional 700 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $432,000. State Board of Administration of Florida Retirement System increased its position in shares of Pacific Biosciences of California by 35.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 44,388 shares of the company’s stock worth $312,000 after buying an additional 11,656 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $900,000. Institutional investors own 70.73% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

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Pacific Biosciences of California, Inc. (PACB) Rating Reiterated by Cantor Fitzgerald

Pacific Biosciences of California, Inc. (PACB) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in a research note published on Friday morning. They currently have a $8.00 price objective on the stock.

“Solid 4Q16 results despite lower than-expected Sequel bookings. The company reported total revenues of $25.7M, $2.5M above our estimate of $23.2M and $2.7M above FactSet consensus of $23.0M. System revenue beat due to strong placements in the quarter, slightly offset by lower-than-expected consumable revenue.”,” the firm’s analyst wrote.

Other analysts have also issued reports about the company. Zacks Investment Research raised Pacific Biosciences of California from a hold rating to a buy rating and set a $10.00 target price on the stock in a report on Tuesday, October 25th. J P Morgan Chase & Co reaffirmed a hold rating and set a $12.00 target price on shares of Pacific Biosciences of California in a report on Thursday, November 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $11.27.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at 4.84 on Friday. Pacific Biosciences of California has a 1-year low of $3.76 and a 1-year high of $10.75. The firm has a 50-day moving average price of $4.57 and a 200-day moving average price of $7.26. The company’s market cap is $448.56 million.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 2nd. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $25.70 million for the quarter, compared to analyst estimates of $22.84 million. Pacific Biosciences of California had a negative return on equity of 75.50% and a negative net margin of 81.99%. Pacific Biosciences of California’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. On average, equities analysts expect that Pacific Biosciences of California will post ($0.85) EPS for the current year.

Institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $526,000. Tocqueville Asset Management L.P. increased its position in shares of Pacific Biosciences of California by 2.9% in the second quarter. Tocqueville Asset Management L.P. now owns 25,000 shares of the company’s stock worth $176,000 after buying an additional 700 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $432,000. State Board of Administration of Florida Retirement System increased its position in shares of Pacific Biosciences of California by 35.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 44,388 shares of the company’s stock worth $312,000 after buying an additional 11,656 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $900,000. Institutional investors own 70.73% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

Related posts

Leave a Comment