Brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to post earnings of ($0.19) per share for the current quarter, Zacks reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.20). Pacific Biosciences of California reported earnings per share of ($0.21) in the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.88) per share for the current financial year, with EPS estimates ranging from ($0.91) to ($0.85). For the next fiscal year, analysts forecast that the business will post earnings of ($0.62) per share, with EPS estimates ranging from ($0.71) to ($0.56). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The firm had revenue of $23.54 million during the quarter, compared to analysts’ expectations of $28.29 million. During the same period last year, the business posted ($0.19) earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year.

Several research analysts have recently issued reports on PACB shares. First Analysis cut Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research note on Friday, November 3rd. Zacks Investment Research upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, CL King cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a research note on Thursday, September 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.27.

Pacific Biosciences of California (PACB) opened at $2.74 on Friday. Pacific Biosciences of California has a 12 month low of $2.66 and a 12 month high of $5.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75.

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Pacific Biosciences of California by 2.6% during the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after acquiring an additional 2,650 shares during the period. Mutual of America Capital Management LLC grew its holdings in Pacific Biosciences of California by 0.9% during the second quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock worth $1,669,000 after acquiring an additional 3,970 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Pacific Biosciences of California by 7.9% during the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 5,145 shares during the period. Voya Investment Management LLC grew its holdings in 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 worth $148,000 after acquiring an additional 6,218 shares during the period. Finally, Stephens Inc. AR grew its holdings in Pacific Biosciences of California by 2.3% during the second quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock worth $1,015,000 after acquiring an additional 6,274 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was first published by American Banking News and is the property of of American Banking News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/15/analysts-expect-pacific-biosciences-of-california-pacb-will-post-earnings-of-0-19-per-share.html.

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.

Get a free copy of the Zacks research report on Pacific Biosciences of California (PACB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.