Why Should You Invest In Pacific Biosciences of California Inc. (NASDAQ: PACB)? – Marketing Sentinel
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Why Should You Invest In Pacific Biosciences of California Inc. (NASDAQ: PACB)?

In the last trading session, 1.14 million Pacific Biosciences of California Inc. (NASDAQ:PACB) shares changed hands as the company’s beta touched 1.09. With the company’s per share price at $30.25 changed hands at $0.51 or 1.71% during last session, the market valuation stood at $6.08B. PACB’s last price was a discount, traded about -77.49% off its 52-week high of $53.69. The share price had its 52-week low at $3.35, which suggests the last value was 88.93% up since then. When we look at Pacific Biosciences of California Inc.’s average trading volume, we note the 10-day average is 1.69 million shares, with the 3-month average coming to 2.74 million.

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Analysts gave the Pacific Biosciences of California Inc. (PACB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended PACB as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Pacific Biosciences of California Inc.’s EPS for the current quarter is expected to be -$0.2.


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Pacific Biosciences of California Inc. (NASDAQ:PACB) trade information

Instantly PACB was in green as seen at the end of in last trading. With action 7.96%, the performance over the past five days has been green. The jump to weekly highs of 30.56 on Tuesday, 06/22/21 added 1.71% to the stock’s daily price. The company’s shares are showing year-to-date upside of 16.62%, with the 5-day performance at 7.96% in the green. However, in the 30-day time frame, Pacific Biosciences of California Inc. (NASDAQ:PACB) is 18.30% up. Looking at the short shares, we see there were 11.74 million shares sold at short interest cover period of 3.58 days.

The consensus price target for the stock as assigned by Wall Street analysts is $50.80, meaning bulls need an upside of 40.45% from its current market value. According to analyst projections, PACB’s forecast low is $45.00 with $62.00 as the target high. To hit the forecast high, the stock’s price needs a -104.96% plunge from its current level, while the stock would need to soar -48.76% for it to hit the projected low.

Pacific Biosciences of California Inc. (PACB) estimates and forecasts

Data shows that the Pacific Biosciences of California Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 50.50% over the past 6 months, a -694.12% in annual growth rate that is considerably lower than the industry average of 19.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Pacific Biosciences of California Inc. will fall -33.30%, while the growth in revenue is estimated to hit -50.00% for the next quarter. Year-over-year growth is forecast to reach 70.50% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $29.89 million. 3 analysts are of the opinion that Pacific Biosciences of California Inc.’s revenue for the quarter ending Sep 2021 will be $34.24 million. The company’s revenue for the corresponding quarters a year ago was $17.08 million and $20.35 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 75.00%. The estimates for the next quarter sales put growth at 68.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.10%. The 2021 estimates are for Pacific Biosciences of California Inc. earnings to increase by 130.50%, but the outlook for the next 5-year period is at -1.00% per year.

PACB Dividends

Pacific Biosciences of California Inc. is expected to release its next quarterly earnings report in July.

Pacific Biosciences of California Inc. (NASDAQ:PACB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.37% of Pacific Biosciences of California Inc. shares while 95.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 97.92%. There are 95.60% institutions holding the Pacific Biosciences of California Inc. stock share, with ARK Investment Management, LLC the top institutional holder. As of Dec 30, 2020, the company held 14.37% of the shares, roughly 28.5 million PACB shares worth $739.41 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.62% or 15.12 million shares worth $392.1 million as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Mar 30, 2021 were ARK ETF Tr-ARK Genomic Revolution ETF and Smallcap World Fund. With 14.2 million shares estimated at $473.16 million under it, the former controlled 7.16% of total outstanding shares. On the other hand, Smallcap World Fund held about 4.45% of the shares, roughly 8.83 million shares worth around $294.29 million.

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