The stock of Pacific Biosciences of California Inc. (NASDAQ:PACB) decreased by -$0.33 on Tuesday to finish at $11.22, down -2.86 percent. The last five days have seen an average of 3,080,440 shares of common stock traded. 19 times new highs were reached in the current year, with a gain of $3.04. The average number of shares traded over the last 20 days was 3,806,970, while the average volume over the last 50 days totaled 3,706,828.
PACB stock dropped -19.45% since last month. On 08/15/23, the company’s shares reached a one-month low of $11.15. The stock touched a high of $14.55 on 07/18/23, after rallying from a low of $4.97 in 52 weeks. The price of PACB stock has risen by 37.16% or $3.04 this year, reaching a new high 19 times. Still, the stock price is down -22.89% from the 52-week high.
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Insider Transactions
PACB stock investors should be aware that Pacific Biosciences of California Inc. (PACB) stock had its last reported insider trading activity 90 days ago on May 18. On May 18, Farmer Michele sold 5,165 shares at $12.59 each. This transaction resulted in the insider making $65,027. On Mar 15, Ericson William W. sold 7,541 shares at a price of US$8.90. After the transaction, the insider now owns 18,795 shares. HENRY CHRISTIAN O had earlier sold 13,769 shares on Mar 03 for $9.49 a share. The transaction was completed for $130,709.
Valuation Metrics
Beta for the stock is 1.64. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 19.84, the price-to-book (PB) ratio of 4.37.
Financial Health
For the three months ended June 29, Pacific Biosciences of California Inc.’s quick ratio was 3.20, while its current ratio was 3.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.39, and the total debt to equity ratio is 1.39. As far as profitability goes, gross margin for the trailing twelve months is 32.60% percent. Based on annual data, it had gross profit of $49.03 million and revenue of $128.3 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PACB’s return on assets (ROA) during the last 12 months has been -17.40%. There was a -21.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -50.60%.
Earnings Surprise
According to Pacific Biosciences of California Inc.’s quarterly financial report for the quarter that ended June 29, it had $620.58 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $47.55 million, while revenues rose by 25.4% to $38.9 million. It was predicted that Pacific Biosciences of California Inc.’s quarterly earnings would be -$0.28, but it ended up being -$0.32, beating the consensus by 12.50%. EBITDA was -$72.11 million for the quarter. At the end of Pacific Biosciences of California Inc.’s most recent quarter ended June 29, its liabilities totaled 1.21 billion, while its total debt was $939.06 million. Equity owned by shareholders amounts to $250.56 million.
Technical Picture
Here’s a quick look at Pacific Biosciences of California Inc.’s (PACB) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 29.97%, suggesting the stock is oversold, with a 57.00% historical volatility rate.
The stochastic %K and %D were 7.17% and 12.23% respectively, while the average true range (ATR) was 0.64. Based on the 14-day stochastic reading of 2.74%, the RSI (14) reading is 34.68%. On the 9-day MACD Oscillator, the stock is at -0.29, and the 14-day reading is at -0.80.
Analyst Ratings
Analysts have assigned Pacific Biosciences of California Inc. (PACB) an Overweight rating. PACB is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is PACB’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.00 and $19.00, with a median target price of $15.00. In analyzing these forecasts, the average price target given by analysts for Pacific Biosciences of California Inc. (PACB) is $15.17.
