In today’s recent session, 2,082,275 shares of the Pacific Biosciences of California, Inc.(NASDAQ:PACB) have been traded, and its beta is 1.24. Most recently the company’s share price was $39.99, and it changed around -$3.04 or -0.07% from the last close, which brings the market valuation of the company to $7.69 Billion. PACB at last check was trading at a discount to its 52-week high of $53.69, offering almost -34.26% off that amount. The share price’s 52-week low was $2.2, which indicates that the recent value has risen by an impressive 94.5% since then. We note from Pacific Biosciences of California, Inc.’s average daily trading volume that its 10-day average is 4.77 Million shares, with the 3-month average coming to 5.21 Million.
Pacific Biosciences of California, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.4. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended PACB as a Hold, whereas 3 deemed it a Buy, and no one rated it as Underweight. Pacific Biosciences of California, Inc. is expected to report earnings per share of -$0.39 for the current quarter.
Pacific Biosciences of California, Inc. (NASDAQ:PACB): Trading Information Today
Although PACB has been showing red trend so far today with a performance of -7.06% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $51.25 on Tuesday, Feb 16 increased the stock’s daily price by 20.91%. The company’s shares are currently up 0.56% year-to-date, but still down -0.1945 over the last five days. On the other hand, Pacific Biosciences of California, Inc. (NASDAQ:PACB) is 0.08% up in the 30-day period. We can see from the shorts that 13Million shares have been sold at a short interest cover period of 2.5 day(s).
The consensus price target as assigned by Wall Street analysts is $50.8, which translates to bears needing to increase their stock price by 27.03% from its current value. Analyst projections state that PACB is forecast to be at a low of $45 and a high of $62. In order for the stock price to hit the forecast high, the stock would need to surge +55.04% from its current level, while the stock would need to crash 12.53% from its current level to reach the projected low.
Pacific Biosciences of California, Inc. (PACB) projections and forecasts
Pacific Biosciences of California, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +563.02 percent over the past six months and at a -635.29% annual growth rate that is well below the industry average of 20.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -4000% in revenue this quarter, and will report a decline of -26.7% in the next quarter. The year-over-year growth rate is expected to be 68.8%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $25.67 Million in revenue for the current quarter. 3 analysts expect Pacific Biosciences of California, Inc. to make $30.27 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $15.6 Million and $17.08 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 64.6%. Forecasts for the next quarter put sales growth at 77.3%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.1%. Pacific Biosciences of California, Inc. earnings are expected to increase by 27.3% in 2021, but the outlook is negative -1% per year for the next five years.
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Pacific Biosciences of California, Inc. (NASDAQ:PACB)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.76% of Pacific Biosciences of California, Inc. shares, and 94.62% of them are in the hands of institutional investors. The stock currently has a share float of 97.31%. Pacific Biosciences of California, Inc. stock is held by 243 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Sep 29, 2020, it held 11.01% of the shares, which is about 19.84 Million shares worth $195.87 Million.
Blackrock Inc., with 8.39% or 15.12 Million shares worth $392.1 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.