Pacific Biosciences of California (NASDAQ:PACB) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Pacific Biosciences of California (NASDAQ:PACB) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.04), Fidelity Earnings reports. The company had revenue of $21.92 million during the quarter, compared to analyst estimates of $28.02 million. Pacific Biosciences of California had a negative return on equity of 106.36% and a negative net margin of 140.68%.

NASDAQ:PACB opened at $4.69 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. Pacific Biosciences of California has a 52-week low of $4.37 and a 52-week high of $7.84. The firm has a market cap of $743.41 million, a price-to-earnings ratio of -6.17 and a beta of 1.68. The business’s fifty day moving average is $5.09 and its 200 day moving average is $5.94.

Several research firms have recently issued reports on PACB. BidaskClub lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. Piper Jaffray Companies upgraded Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research note on Tuesday, October 15th. Finally, ValuEngine upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $8.00.

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 for Pacific Biosciences of California (NASDAQ:PACB)

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