Pacific Biosciences of California, Inc. (NASDAQ:PACB) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.02, Briefing.com reports. The company had revenue of $20.07 million for the quarter, compared to analyst estimates of $23.34 million. Pacific Biosciences of California had a negative return on equity of 87.51% and a negative net margin of 81.75%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share.
Pacific Biosciences of California (NASDAQ:PACB) traded down 0.62% during trading on Wednesday, reaching $3.20. The company had a trading volume of 573,005 shares. Pacific Biosciences of California has a 12 month low of $3.08 and a 12 month high of $9.50. The company’s market capitalization is $299.36 million. The stock has a 50 day moving average of $3.42 and a 200-day moving average of $4.28.
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Several equities analysts recently commented on the company. BidaskClub lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. ValuEngine lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 13th. Finally, Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the stock a “buy” rating in a research report on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.00.
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.
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