Equities analysts forecast that Pacific Biosciences of California, Inc. (NASDAQ:PACB) will post sales of $28.49 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $27.59 million and the highest is $29.39 million. Pacific Biosciences of California posted sales of $25.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year sales of $28.49 million for the current fiscal year, with estimates ranging from $103.10 million to $109.96 million. For the next fiscal year, analysts expect that the firm will post sales of $132.52 million per share, with estimates ranging from $132.14 million to $132.89 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results 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 return on equity of 93.31% and a negative net margin of 89.67%. The firm had revenue of $20.07 million for the quarter, compared to analyst estimates of $23.34 million. During the same period in the previous year, the company earned ($0.21) earnings per share. Pacific Biosciences of California’s revenue for the quarter was down 3.2% compared to the same quarter last year.

A number of brokerages have recently weighed in on PACB. Zacks Investment Research lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub upgraded Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Pacific Biosciences of California has an average rating of “Hold” and an average target price of $10.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Karp Capital Management Corp bought a new stake in shares of Pacific Biosciences of California during the first quarter valued at approximately $116,000. HighTower Advisors LLC boosted its position in shares of Pacific Biosciences of California by 35.1% during the second quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 7,225 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter valued at approximately $153,000. Bank of Montreal Can boosted its position in shares of Pacific Biosciences of California by 601.5% during the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 35,463 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 17.5% during the second quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock valued at $148,000 after purchasing an additional 6,218 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Pacific Biosciences of California (NASDAQ:PACB) opened at 5.39 on Thursday. The stock’s 50 day moving average price is $4.31 and its 200-day moving average price is $4.20. The firm’s market capitalization is $623.04 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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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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