Pacific Biosciences of California (PACB) Expected to Post Quarterly Sales of $21.69 Million

Wall Street analysts expect Pacific Biosciences of California (NASDAQ:PACB) to report $21.69 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $21.63 million and the highest is $21.75 million. Pacific Biosciences of California reported sales of $25.72 million during the same quarter last year, which indicates a negative year-over-year growth rate of 15.7%. The firm is expected to issue its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year sales of $21.69 million for the current year, with estimates ranging from $90.17 million to $103.10 million. For the next financial year, analysts anticipate that the company will report sales of $112.45 million per share, with estimates ranging from $112.44 million to $112.46 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $23.54 million during the quarter, compared to the consensus estimate 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 company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share.

PACB has been the subject of a number of analyst reports. First Analysis lowered shares of 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 report on Friday, November 3rd. BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. CL King lowered shares of 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 report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.27.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position 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 valued at $13,988,000 after purchasing an additional 283,216 shares during the last quarter. Maverick Capital Ltd. lifted its position 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 valued at $37,750,000 after purchasing an additional 1,530,070 shares during the last quarter. HighTower Advisors LLC lifted its position in 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 during the last quarter. State Street Corp lifted its position 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 valued at $5,419,000 after purchasing an additional 106,607 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Pacific Biosciences of California by 45.5% during the second quarter. Alliancebernstein L.P. now owns 114,200 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 35,700 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Pacific Biosciences of California (PACB) opened at $2.70 on Friday. The firm has a market cap of $313.87, a PE ratio of -2.97 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.

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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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