Q1 2018 EPS Estimates for Pacific Biosciences of California (PACB) Reduced by Analyst

Pacific Biosciences of California (NASDAQ:PACB) – Investment analysts at William Blair dropped their Q1 2018 earnings per share (EPS) estimates for shares of Pacific Biosciences of California in a research note issued to investors on Wednesday. William Blair analyst A. Murphy now expects that the biotechnology company will post earnings per share of ($0.19) for the quarter, down from their prior estimate of ($0.16). William Blair also issued estimates for Pacific Biosciences of California’s Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.65) EPS, Q1 2019 earnings at ($0.14) EPS, Q2 2019 earnings at ($0.13) EPS and FY2019 earnings at ($0.46) EPS.

PACB has been the topic of several other reports. BidaskClub downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Zacks Investment Research downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, First Analysis downgraded 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 analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Pacific Biosciences of California presently has an average rating of “Hold” and a consensus price target of $6.27.

Pacific Biosciences of California (PACB) opened at $2.53 on Friday. Pacific Biosciences of California has a 12-month low of $2.51 and a 12-month high of $5.74. The firm has a market capitalization of $303.48, a PE ratio of -2.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Pacific Biosciences of California had a negative return on equity of 96.55% and a negative net margin of 98.63%. The firm had revenue of $24.94 million for the quarter, compared to the consensus estimate of $21.89 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.

A number of large investors have recently made changes to their positions in PACB. Swiss National Bank increased its stake in Pacific Biosciences of California by 21.6% during the second quarter. Swiss National Bank now owns 168,646 shares of the biotechnology company’s stock worth $600,000 after acquiring an additional 30,000 shares during the last quarter. Alliancebernstein L.P. increased its stake 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 worth $407,000 after acquiring an additional 35,700 shares during the last quarter. Teachers Advisors LLC increased its stake in Pacific Biosciences of California by 0.8% during the second quarter. Teachers Advisors LLC now owns 991,284 shares of the biotechnology company’s stock worth $3,529,000 after acquiring an additional 7,574 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Pacific Biosciences of California by 4.3% during the second quarter. TIAA CREF Investment Management LLC now owns 219,861 shares of the biotechnology company’s stock worth $783,000 after acquiring an additional 9,062 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Pacific Biosciences of California by 8.6% during the second quarter. Northern Trust Corp now owns 1,076,060 shares of the biotechnology company’s stock worth $3,831,000 after acquiring an additional 84,795 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

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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.

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

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