Pacific Biosciences of California, Inc. (NASDAQ:PACB) – First Analysis upped their Q3 2017 earnings per share (EPS) estimates for shares of Pacific Biosciences of California in a research report issued on Thursday. First Analysis analyst now anticipates that the biotechnology company will post earnings per share of ($0.18) for the quarter, up from their previous forecast of ($0.22). First Analysis also issued estimates for Pacific Biosciences of California’s Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.87) EPS, Q1 2018 earnings at ($0.19) EPS and FY2018 earnings at ($0.69) EPS.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The business’s revenue was down 3.2% on a year-over-year basis.

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PACB has been the topic of a number of other reports. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. ValuEngine downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the company a “buy” rating in a research note on Thursday, April 27th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $10.00.

Pacific Biosciences of California (NASDAQ PACB) opened at 4.01 on Monday. The firm has a 50-day moving average price of $3.42 and a 200-day moving average price of $4.28. Pacific Biosciences of California has a 52 week low of $3.08 and a 52 week high of $9.50. The firm’s market capitalization is $390.41 million.

A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in shares of Pacific Biosciences of California by 601.5% in the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after buying an additional 35,463 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Pacific Biosciences of California during the first quarter valued at approximately $368,000. SG Americas Securities LLC increased its position in Pacific Biosciences of California by 38.1% in the first quarter. SG Americas Securities LLC now owns 89,683 shares of the biotechnology company’s stock valued at $464,000 after buying an additional 24,730 shares during the period. Teachers Advisors LLC increased its position in Pacific Biosciences of California by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 826,565 shares of the biotechnology company’s stock valued at $3,141,000 after buying an additional 8,774 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its position in 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 period. 57.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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