Could Pacific Biosciences of California Inc (PACB) stock price achieve new all-time highs if its expected earnings and revenue increase?

In yesterday’s Wall Street session, Pacific Biosciences of California Inc (NASDAQ:PACB) shares traded at $7.22, up 10.74% from the previous session.

As of this writing, 12 analysts cover Pacific Biosciences of California Inc (NASDAQ:PACB). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $8.00, we find $11.50. Given the previous closing price of $6.52, this indicates a potential upside of 76.38 percent. PACB stock price is now -18.59% away from the 50-day moving average and -33.30% away from the 200-day moving average. The market capitalization of the company currently stands at $1.81B.

There are 4 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $12.33 as their price target over the next twelve months.

With the price target maintained at $11, Cantor Fitzgerald recently Upgraded its rating from Neutral to Overweight for Pacific Biosciences of California Inc (NASDAQ: PACB).

In other news, Kim Susan G., insider sold 19,257 shares of the company’s stock on Sep 29. The stock was sold for $162,471 at an average price of $8.44. Upon completion of the transaction, the insider now directly owns 306,085 shares in the company, valued at $2.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18, HENRY CHRISTIAN O sold 96,844 shares of the business’s stock. A total of $980,255 was realized by selling the stock at an average price of $10.12. This leaves the insider owning 1,106,095 shares of the company worth $7.99 million. Insiders disposed of 303,239 shares of company stock worth roughly $2.19 million over the past 1 year. A total of 3.36% of the company’s stock is owned by insiders.

Friday morning saw Pacific Biosciences of California Inc (NASDAQ: PACB) opened at $6.92. During the past 12 months, Pacific Biosciences of California Inc has had a low of $5.74 and a high of $14.55. As of last week, the company has a debt-to-equity ratio of 1.22, a current ratio of 4.80, and a quick ratio of 4.43. The fifty day moving average price for PACB is $8.81 and a two-hundred day moving average price translates $10.80 for the stock.

The latest earnings results from Pacific Biosciences of California Inc (NASDAQ: PACB) was released for Sep, 2023. According to the Medical Devices Company, earnings per share came in at -$0.28, beating analysts’ expectations of -$0.32 by 0.04. This compares to -$0.32 EPS in the same period last year. The net profit margin was -182.34% and return on equity was -44.46% for PACB. The company reported revenue of $47.57 million for the quarter, compared to $35.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 34.13 percent. For the current quarter, analysts expect PACB to generate $48.76M in revenue.

Pacific Biosciences of California Inc(PACB) Company Profile

Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; public health labs, hospitals and clinical research institutes, contract research organizations, and academic institutions; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. It has a development and commercialization agreement with Invitae Corporation; and a collaboration with Radboud University Medical to explore genetic causes of rare and genetic diseases. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.

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