$27.58 Million in Sales Expected for Pacific Biosciences of California (NASDAQ:PACB) This Quarter

Analysts expect Pacific Biosciences of California (NASDAQ:PACB) to report sales of $27.58 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pacific Biosciences of California’s earnings, with estimates ranging from $24.50 million to $31.50 million. Pacific Biosciences of California reported sales of $18.16 million in the same quarter last year, which indicates a positive year over year growth rate of 51.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year sales of $99.92 million for the current fiscal year, with estimates ranging from $93.90 million to $109.34 million. For the next financial year, analysts anticipate that the business will post sales of $137.89 million, with estimates ranging from $114.10 million to $169.79 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Pacific Biosciences of California had a negative return on equity of 106.36% and a negative net margin of 140.68%. The company had revenue of $24.62 million during the quarter, compared to analysts’ expectations of $22.27 million.

A number of equities analysts recently commented on the company. BidaskClub cut Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. ValuEngine cut Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the company a “hold” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $7.50.

Pacific Biosciences of California stock traded up $0.13 during midday trading on Wednesday, reaching $5.11. 1,407,294 shares of the stock traded hands, compared to its average volume of 1,610,298. The company has a 50-day simple moving average of $5.46 and a two-hundred day simple moving average of $6.31. Pacific Biosciences of California has a 12-month low of $3.90 and a 12-month high of $7.84. The firm has a market cap of $781.65 million, a PE ratio of -6.72 and a beta of 1.76. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Pacific Biosciences of California by 5.0% in the 2nd quarter. BlackRock Inc. now owns 11,698,356 shares of the biotechnology company’s stock valued at $70,776,000 after buying an additional 559,753 shares during the period. Vanguard Group Inc. boosted its stake in shares of Pacific Biosciences of California by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,666,529 shares of the biotechnology company’s stock valued at $46,382,000 after buying an additional 55,322 shares during the period. CNH Partners LLC boosted its stake in shares of Pacific Biosciences of California by 2.5% in the 1st quarter. CNH Partners LLC now owns 6,751,127 shares of the biotechnology company’s stock valued at $48,811,000 after buying an additional 166,229 shares during the period. ARP Americas LP boosted its stake in shares of Pacific Biosciences of California by 40.6% in the 2nd quarter. ARP Americas LP now owns 4,382,622 shares of the biotechnology company’s stock valued at $26,515,000 after buying an additional 1,264,990 shares during the period. Finally, Water Island Capital LLC boosted its stake in shares of Pacific Biosciences of California by 7.0% in the 2nd quarter. Water Island Capital LLC now owns 3,878,336 shares of the biotechnology company’s stock valued at $23,464,000 after buying an additional 254,659 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

About Pacific Biosciences of California

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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