Zacks: Brokerages Expect Pacific Biosciences of California (PACB) Will Announce Earnings of -$0.16 Per Share

Wall Street analysts expect that Pacific Biosciences of California (NASDAQ:PACB) will post earnings of ($0.16) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pacific Biosciences of California’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.15). Pacific Biosciences of California reported earnings per share of ($0.19) during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.67) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.66). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.49) per share, with EPS estimates ranging from ($0.61) to ($0.41). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). Pacific Biosciences of California had a negative net margin of 100.09% and a negative return on equity of 95.29%. The firm had revenue of $21.58 million during the quarter, compared to analysts’ expectations of $24.45 million. During the same period in the previous year, the business posted ($0.26) EPS. The business’s revenue was up 7.5% compared to the same quarter last year.



Several research firms recently issued reports on PACB. Cantor Fitzgerald reiterated a “buy” rating and issued a $8.00 target price on shares of Pacific Biosciences of California in a research note on Sunday, October 21st. Zacks Investment Research cut shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. BidaskClub cut shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Finally, Cowen assumed coverage on shares of Pacific Biosciences of California in a research report on Friday, October 19th. They set an “outperform” rating and a $6.50 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.31.

Shares of PACB traded up $0.09 during trading hours on Friday, hitting $4.09. The stock had a trading volume of 1,137,500 shares, compared to its average volume of 1,035,260. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.33 and a quick ratio of 3.28. Pacific Biosciences of California has a fifty-two week low of $2.02 and a fifty-two week high of $5.82. The stock has a market cap of $566.03 million, a P/E ratio of -4.70 and a beta of 2.14.

Large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Pacific Biosciences of California by 7.8% during the first quarter. BlackRock Inc. now owns 8,792,739 shares of the biotechnology company’s stock worth $18,023,000 after acquiring an additional 637,115 shares during the period. Schwab Charles Investment Management Inc. raised its position in Pacific Biosciences of California by 21.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 518,737 shares of the biotechnology company’s stock worth $1,064,000 after acquiring an additional 91,535 shares during the period. Point72 Asset Management L.P. raised its position in Pacific Biosciences of California by 38.1% during the second quarter. Point72 Asset Management L.P. now owns 2,900,000 shares of the biotechnology company’s stock worth $10,295,000 after acquiring an additional 800,000 shares during the period. Northern Trust Corp raised its position in Pacific Biosciences of California by 9.8% during the first quarter. Northern Trust Corp now owns 1,323,140 shares of the biotechnology company’s stock worth $2,713,000 after acquiring an additional 118,214 shares during the period. Finally, UBS Group AG raised its position in Pacific Biosciences of California by 72.8% during the first quarter. UBS Group AG now owns 301,726 shares of the biotechnology company’s stock worth $619,000 after acquiring an additional 127,112 shares during the period. Institutional investors own 70.59% 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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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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