Equities research analysts predict that Pacific Biosciences of California, Inc. (NASDAQ:PACB) will report ($0.20) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at ($0.18). Pacific Biosciences of California posted earnings per share of ($0.19) during the same quarter last year, which indicates a negative year over year growth rate of 5.3%. The business is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.89) per share for the current financial year, with EPS estimates ranging from ($0.95) to ($0.85). For the next financial year, analysts anticipate that the company will post earnings of ($0.66) per share, with EPS estimates ranging from ($0.75) to ($0.58). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Pacific Biosciences of California.
Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.02. Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. The firm had revenue of $20.07 million during the quarter, compared to analysts’ expectations of $23.34 million. During the same quarter last year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis.
Several research firms have recently commented on PACB. Zacks Investment Research cut Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub raised Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, ValuEngine cut Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Pacific Biosciences of California currently has a consensus rating of “Hold” and an average target price of $10.00.
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Pacific Biosciences of California (NASDAQ:PACB) traded up 4.66% during trading on Thursday, reaching $4.49. 1,095,394 shares of the company were exchanged. The firm’s 50 day moving average is $3.69 and its 200 day moving average is $4.21. Pacific Biosciences of California has a 52-week low of $3.08 and a 52-week high of $9.50. The stock’s market capitalization is $519.00 million.
Several large investors have recently added to or reduced their stakes in PACB. Rhumbline Advisers boosted its stake in Pacific Biosciences of California by 2.6% in the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock valued at $372,000 after buying an additional 2,650 shares during the period. American International Group Inc. boosted its stake in Pacific Biosciences of California by 7.4% in the first quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 3,258 shares during the period. Mutual of America Capital Management LLC boosted its stake in Pacific Biosciences of California by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock valued at $1,669,000 after buying an additional 3,970 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Pacific Biosciences of California by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 5,145 shares during the period. Finally, Trellus Management Company LLC boosted its stake in Pacific Biosciences of California by 1.9% in the first quarter. Trellus Management Company LLC now owns 314,200 shares of the biotechnology company’s stock valued at $1,624,000 after buying an additional 6,000 shares during the period. 54.62% of the stock is owned by institutional investors.
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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