Pacific Biosciences of California, Inc. (NASDAQ:PACB) announced its earnings results on Thursday. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01, Bloomberg Earnings reports. The business had revenue of $23.54 million during the quarter, compared to analyst estimates of $28.29 million. Pacific Biosciences of California had a negative return on equity of 100.62% and a negative net margin of 95.97%. Pacific Biosciences of California’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS.

Pacific Biosciences of California (PACB) traded down $1.13 during mid-day trading on Friday, hitting $3.03. The stock had a trading volume of 4,093,725 shares, compared to its average volume of 639,279.

Several research analysts recently issued reports on PACB shares. BidaskClub lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. CL King lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a research report on Thursday, September 28th. Finally, First Analysis lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.70.

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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.

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

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