Brokerages forecast that Pacific Biosciences of California, Inc. (NASDAQ:PACB) will report sales of $28.33 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $27.90 million and the highest is $28.76 million. Pacific Biosciences of California posted sales of $25.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.

On average, analysts expect that Pacific Biosciences of California will report full year sales of $28.33 million for the current fiscal year, with estimates ranging from $105.80 million to $109.87 million. For the next fiscal year, analysts forecast that the business will post sales of $130.86 million per share, with estimates ranging from $129.99 million to $131.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow 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 (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.02. The company had revenue of $20.07 million during the quarter, compared to the consensus estimate of $23.34 million. Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share.

Several brokerages recently issued reports on PACB. Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the company a “buy” rating in a report on Thursday, April 27th. 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. 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, 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. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Pacific Biosciences of California presently has an average rating of “Hold” and an average price target of $10.00.

Pacific Biosciences of California (NASDAQ PACB) opened at 4.47 on Tuesday. The stock has a 50 day moving average of $3.42 and a 200 day moving average of $4.28. The company’s market capitalization is $435.20 million. Pacific Biosciences of California has a 12-month low of $3.08 and a 12-month high of $9.50.

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Several institutional investors have recently made changes to their positions in PACB. Rhumbline Advisers increased its position in shares of Pacific Biosciences of California by 2.6% in the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after buying an additional 2,650 shares in the last quarter. American International Group Inc. increased its position in shares of 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 worth $243,000 after buying an additional 3,258 shares in the last quarter. Trellus Management Company LLC increased its position in shares of 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 worth $1,624,000 after buying an additional 6,000 shares in the last quarter. Teachers Advisors LLC increased its position in shares of 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 worth $3,141,000 after buying an additional 8,774 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Pacific Biosciences of California by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 407,898 shares of the biotechnology company’s stock worth $2,108,000 after buying an additional 17,794 shares in the last quarter. 55.42% 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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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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