-$0.33 EPS Expected for Pacific Biosciences of California, Inc. (NASDAQ:PACB) This Quarter

Wall Street brokerages expect Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) to announce earnings of ($0.33) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Pacific Biosciences of California’s earnings, with estimates ranging from ($0.34) to ($0.32). Pacific Biosciences of California reported earnings per share of ($0.21) during the same quarter last year, which would suggest a negative year-over-year growth rate of 57.1%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Pacific Biosciences of California will report full year earnings of ($1.30) per share for the current year, with EPS estimates ranging from ($1.33) to ($1.27). For the next year, analysts anticipate that the company will report earnings of ($1.11) per share, with EPS estimates ranging from ($1.22) to ($0.96). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). The business had revenue of $33.17 million during the quarter, compared to analyst estimates of $32.82 million. Pacific Biosciences of California had a negative net margin of 138.85% and a negative return on equity of 35.02%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) EPS.

PACB has been the subject of several analyst reports. Cantor Fitzgerald lowered their price target on shares of Pacific Biosciences of California from $23.00 to $19.00 in a report on Thursday. Canaccord Genuity Group lowered their price target on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $7.00 price target for the company. in a report on Tuesday, April 26th. StockNews.com initiated coverage on shares of Pacific Biosciences of California in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Piper Sandler lowered their price target on shares of Pacific Biosciences of California from $20.00 to $13.00 in a report on Tuesday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.29.

In other news, Director Kathy Ordonez sold 3,280 shares of the company’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $11.50, for a total value of $37,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 6,464 shares of company stock valued at $72,999. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its position in Pacific Biosciences of California by 5.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 8,472 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 400 shares during the last quarter. American Century Companies Inc. raised its position in Pacific Biosciences of California by 1.1% in the 3rd quarter. American Century Companies Inc. now owns 47,267 shares of the biotechnology company’s stock valued at $1,208,000 after purchasing an additional 506 shares during the last quarter. CIBC Asset Management Inc raised its position in Pacific Biosciences of California by 16.2% in the 3rd quarter. CIBC Asset Management Inc now owns 8,042 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 1,121 shares during the last quarter. Essex Investment Management Co. LLC raised its position in Pacific Biosciences of California by 15.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 9,058 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 1,225 shares during the last quarter. Finally, TFC Financial Management raised its position in Pacific Biosciences of California by 714.3% in the 4th quarter. TFC Financial Management now owns 1,425 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Shares of PACB stock opened at $6.12 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 15.01 and a current ratio of 15.36. The stock has a market capitalization of $1.37 billion, a P/E ratio of -7.56 and a beta of 1.43. The company has a 50 day moving average price of $8.88 and a 200 day moving average price of $15.38. Pacific Biosciences of California has a fifty-two week low of $5.70 and a fifty-two week high of $36.36.

Pacific Biosciences of California Company Profile (Get Rating)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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