Wall Street brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to post earnings of ($0.19) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pacific Biosciences of California’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.17). Pacific Biosciences of California posted earnings per share of ($0.21) during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The company is expected to announce its next earnings report on Thursday, February 1st.

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

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

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

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. boosted its stake in Pacific Biosciences of California by 16.9% during the second quarter. Maverick Capital Ltd. now owns 10,603,944 shares of the biotechnology company’s stock worth $37,750,000 after buying an additional 1,530,070 shares during the last quarter. Capital World Investors boosted its stake in Pacific Biosciences of California by 532.3% during the second quarter. Capital World Investors now owns 7,840,000 shares of the biotechnology company’s stock worth $27,910,000 after buying an additional 6,600,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Pacific Biosciences of California by 7.8% during the second quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock worth $13,988,000 after buying an additional 283,216 shares during the last quarter. State Street Corp boosted its stake in Pacific Biosciences of California by 7.5% during the second quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock worth $5,419,000 after buying an additional 106,607 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in Pacific Biosciences of California during the second quarter worth $5,363,000. 70.51% of the stock is currently owned by institutional investors.

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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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