Brokerages Set Price Target for Pacific Biosciences at $1.90

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have received a consensus recommendation of “Hold” from eight ratings firms monitoring the company, according to Marketbeat Ratings. The analysis reveals that one research analyst has issued a sell rating, while four analysts recommend holding the stock and three suggest buying.

The average target price set by brokers for the next year is $1.90. Recent evaluations by several research analysts highlight varying perspectives on the company’s stock. On October 8, 2023, Weiss Ratings reiterated a “sell (e+)” rating, reflecting concerns regarding the company’s performance. Earlier, on August 11, 2023, Piper Sandler raised its price target for Pacific Biosciences from $1.25 to $1.50, maintaining a “neutral” rating. Additionally, Wall Street Zen upgraded the company’s rating from “sell” to “hold” on August 9, 2023.

Current Stock Performance and Financial Overview

As of Friday, Pacific Biosciences shares opened at $2.09. The company boasts a market capitalization of approximately $627.77 million, with a price-to-earnings ratio of -0.91 and a beta value of 2.10. Over the past year, the stock has experienced significant fluctuations, recording a low of $0.85 and a high of $2.72.

The company’s financial ratios indicate strong liquidity, with a quick ratio of 6.02 and a current ratio of 6.92. However, the debt-to-equity ratio stands at 10.51, suggesting a high level of debt compared to equity. The stock’s 50-day moving average is $1.42, while the 200-day moving average is $1.31.

On March 29, 2023, Pacific Biosciences reported quarterly earnings, revealing an earnings per share figure of (0.23) and quarterly revenue of $3.34 million. The company exhibited a negative net margin of 336.40% and a negative return on equity of 66.75%. Analysts project that the company will post an earnings per share of (0.72) for the current fiscal year.

About Pacific Biosciences

Pacific Biosciences of California, Inc. specializes in designing, developing, and manufacturing sequencing solutions aimed at addressing complex genetic challenges. The company’s product portfolio includes sequencing systems and consumable products, such as single molecule real-time (SMRT) technology and long-read sequencing. They also offer various reagent kits tailored for specific workflows, including preparation kits for converting DNA into SMRTbell double-stranded DNA library formats, along with essential molecular biology reagents.

As market analysts continue to evaluate Pacific Biosciences, investors are advised to consider these insights and the company’s financial performance as they navigate their investment strategies.