Pacific Biosciences of California (PACB) is Initiated by CL King to Buy

Pacific Biosciences of California (PACB) was Initiated by CL King to “Buy”. CL King advised their investors in a research report released on Jun 27, 2016.

Many Wall Street Analysts have commented on Pacific Biosciences of California. First Analysis Sec Initiated Pacific Biosciences of California on Apr 15, 2016 to “Overweight”, Price Target of the shares are set at $11.

On the company’s financial health, Pacific Biosciences of California reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $-0.24. The company had revenue of $19.10 million for the quarter, compared to analysts expectations of $17.70 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.

Pacific Biosciences of California closed down -0.47 points or -5.47% at $8.13 with 35,93,200 shares getting traded on Friday. Post opening the session at $8.29, the shares hit an intraday low of $8.06 and an intraday high of $8.47 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 26, 2016, James Michael Phillips (SVP, Research & Development) sold 20,000 shares at $10.29 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.

Pacific Biosciences of California

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