Positive News Coverage Somewhat Unlikely to Impact Pacific Biosciences of California (NASDAQ:PACB) Stock Price

News stories about Pacific Biosciences of California (NASDAQ:PACB) have trended positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Pacific Biosciences of California earned a daily sentiment score of 0.35 on Accern’s scale. Accern also assigned news articles about the biotechnology company an impact score of 45.7424916196908 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Pacific Biosciences of California (NASDAQ PACB) traded up 2.41% during midday trading on Friday, hitting $4.25. 976,300 shares of the company traded hands. Pacific Biosciences of California has a 12-month low of $3.08 and a 12-month high of $8.73. The stock’s 50-day moving average price is $4.98 and its 200 day moving average price is $4.20. The company’s market capitalization is $491.26 million.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.02). The company had revenue of $20.07 million for the quarter, compared to analysts’ expectations of $23.34 million. Pacific Biosciences of California had a negative net margin of 127.23% and a negative return on equity of 110.72%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) earnings per share. On average, equities analysts forecast that Pacific Biosciences of California will post ($0.89) EPS for the current year.

Several analysts have issued reports on the stock. CL King downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price target on the stock. in a research note on Thursday, September 28th. BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.93.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

Insider Buying and Selling by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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