Pacific Biosciences of California (PACB) was Initiated by First Analysis Sec to “Overweight” and the brokerage firm has set the Price Target at $11. First Analysis Sec advised their investors in a research report released on Apr 15, 2016.
Many Wall Street Analysts have commented on Pacific Biosciences of California. Pacific Biosciences of California was Downgraded by Piper Jaffray to ” Neutral” on Feb 4, 2016.
On the company’s financial health, Pacific Biosciences of California reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $-0.03. The company had revenue of $36.28 million for the quarter, compared to analysts expectations of $36.64 million. The company’s revenue was up 114.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.
Pacific Biosciences of California opened for trading at $8.89 and hit $9.14 on the upside on Monday, eventually ending the session at $8.89, with a gain of 0.45% or 0.04 points. The heightened volatility saw the trading volume jump to 11,46,889 shares. Company has a market cap of $762 M.
In a different news, on Aug 11, 2015, James Michael Phillips (SVP, Research & Development) sold 16,689 shares at $4.61 per share price. According to the SEC, on Mar 2, 2015, Kevin P Corcoran (SVP, Market Development) purchased 2,816 shares at $4.91 per share price. On Mar 2, 2015, Brian B Dow (VP and PAO) purchased 2,503 shares at $4.91 per share price, according to the Form-4 filing with the securities and exchange commission.
Pacific Biosciences of California Inc. designs develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Company’s Single Molecule Real-Time (SMRT) technology its products enable de novo genome assembly to finish genomes in order to more fully identify annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes characterize alternatively spliced isoforms and find genes; targeted sequencing to more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage. SMRT enables single molecule real-time detection of biological processes. Based on its SMRT technology the Company introduced the PacBio RS II System to address many of the limitations.