Is Pacific Biosciences of California, Inc. overvalued or undervalued?

As of 29 April 2021, the valuation grade for Pacific Biosciences of California, Inc. moved from expensive to risky. The company is considered overvalued based on its financial metrics and peer comparisons. Key ratios include a Price to Book Value of 3.73, an EV to Sales ratio of 4.25, and a ROCE of -154.11%.
In comparison to its peer AtriCure, Inc., which has a P/E ratio of -61.65 and an EV to EBITDA of -428.41, Pacific Biosciences shows significant underperformance. The negative returns over various periods, particularly a YTD decline of -34.97% compared to the S&P 500's 2.44%, further reinforce the notion that the stock is overvalued in its current state.