$21.08 Million in Sales Expected for Pacific Biosciences of California (PACB) This Quarter

Equities research analysts predict that Pacific Biosciences of California (NASDAQ:PACB) will announce sales of $21.08 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pacific Biosciences of California’s earnings, with estimates ranging from $18.35 million to $23.90 million. Pacific Biosciences of California reported sales of $24.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.5%. The company is scheduled to report its next earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full-year sales of $80.18 million for the current fiscal year, with estimates ranging from $77.45 million to $83.00 million. For the next financial year, analysts expect that the company will post sales of $117.81 million, with estimates ranging from $107.07 million to $126.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The firm had revenue of $18.16 million for the quarter, compared to analysts’ expectations of $22.39 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The firm’s revenue for the quarter was down 22.9% compared to the same quarter last year.

Several analysts recently commented on PACB shares. Cantor Fitzgerald cut Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research report on Monday, November 12th. BidaskClub upgraded Pacific Biosciences of California from a “hold” rating to a “buy” rating in a research report on Saturday, November 3rd. ValuEngine upgraded Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Finally, Cowen started coverage on Pacific Biosciences of California in a research report on Friday, October 19th. They set an “outperform” rating and a $6.50 price target for the company. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pacific Biosciences of California has an average rating of “Buy” and a consensus target price of $5.64.

Shares of PACB opened at $7.53 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.65 and a quick ratio of 5.74. Pacific Biosciences of California has a one year low of $2.02 and a one year high of $7.84. The company has a market cap of $1.14 billion, a P/E ratio of -8.66 and a beta of 2.63.

In other Pacific Biosciences of California news, insider Kathy Ordonez sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $7.54, for a total value of $188,500.00. Following the completion of the sale, the insider now directly owns 68,750 shares in the company, valued at approximately $518,375. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 13.40% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PACB. Tower Research Capital LLC TRC purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at $107,000. JPMorgan Chase & Co. grew its holdings in Pacific Biosciences of California by 48.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock valued at $199,000 after buying an additional 12,061 shares in the last quarter. Virtu Financial LLC purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at $212,000. Rhumbline Advisers grew its holdings in Pacific Biosciences of California by 17.0% in the 2nd quarter. Rhumbline Advisers now owns 116,960 shares of the biotechnology company’s stock valued at $415,000 after buying an additional 17,005 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in Pacific Biosciences of California by 53.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 90,137 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 31,390 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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