Equities analysts expect that Pacific Biosciences of California, Inc. (NASDAQ:PACB) will announce $23.27 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $22.96 million and the highest is $23.58 million. Pacific Biosciences of California reported sales of $20.75 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The company is expected to announce its next earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Pacific Biosciences of California will report full-year sales of $23.27 million for the current financial year, with estimates ranging from $106.80 million to $109.87 million. For the next financial year, analysts forecast that the firm will post sales of $130.86 million per share, with estimates ranging from $129.99 million to $131.72 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Wednesday, April 26th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.03. Pacific Biosciences of California had a negative net margin of 81.75% and a negative return on equity of 87.51%. The business had revenue of $24.90 million for the quarter, compared to analysts’ expectations of $23.80 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. Pacific Biosciences of California’s revenue was up 30.4% compared to the same quarter last year.

PACB has been the subject of several recent research reports. Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the company a “buy” rating in a report on Thursday, April 27th. Finally, ValuEngine cut Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 13th.

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Pacific Biosciences of California (PACB) traded down 7.103% during trading on Wednesday, reaching $3.335. The company had a trading volume of 1,082,281 shares. Pacific Biosciences of California has a 52 week low of $3.11 and a 52 week high of $9.50. The company’s 50-day moving average is $3.47 and its 200 day moving average is $4.38. The firm’s market capitalization is $311.99 million.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raging Capital Management LLC acquired a new position in shares of Pacific Biosciences of California during the first quarter valued at $25,549,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of Pacific Biosciences of California by 204.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,618,977 shares of the biotechnology company’s stock valued at $18,710,000 after buying an additional 2,429,528 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pacific Biosciences of California during the first quarter valued at $6,613,000. Morgan Stanley raised its position in shares of Pacific Biosciences of California by 129.0% in the first quarter. Morgan Stanley now owns 773,519 shares of the biotechnology company’s stock valued at $3,998,000 after buying an additional 435,774 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Pacific Biosciences of California by 13.2% in the first quarter. Vanguard Group Inc. now owns 3,646,084 shares of the biotechnology company’s stock valued at $18,850,000 after buying an additional 424,632 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

About Pacific Biosciences of California

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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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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