Wall Street analysts expect Pacific Biosciences of California (NASDAQ:PACB) to post ($0.19) earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Pacific Biosciences of California’s earnings. The highest EPS estimate is ($0.18) and the lowest is ($0.20). Pacific Biosciences of California posted earnings of ($0.21) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The firm is scheduled to issue its next earnings report on Thursday, February 1st.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.89) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.86). For the next financial year, analysts expect that the firm will post earnings of ($0.66) per share, with EPS estimates ranging from ($0.78) to ($0.59). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover 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 Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The company had revenue of $23.54 million for the quarter, compared to analysts’ expectations of $28.29 million. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) EPS.

PACB has been the topic of several analyst reports. CL King downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price on the stock. in a research report on Thursday, September 28th. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, First Analysis downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price on the stock. in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.27.

Shares of Pacific Biosciences of California (PACB) traded up $0.08 on Wednesday, hitting $2.73. 978,953 shares of the stock traded hands, compared to its average volume of 1,431,646. The firm has a market cap of $316.20, a PE ratio of -3.00 and a beta of 1.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15. Pacific Biosciences of California has a 12 month low of $2.51 and a 12 month high of $5.74.

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Pacific Biosciences of California by 35.1% in the second quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 7,225 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Pacific Biosciences of California by 17.5% in 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 in the last quarter. Aperio Group LLC increased its position in shares of Pacific Biosciences of California by 105.5% in the third quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 21,766 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Pacific Biosciences of California in the second quarter worth approximately $155,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Pacific Biosciences of California by 7.9% in 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 in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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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.

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