$35.54 Million in Sales Expected for Pacific Biosciences of California, Inc. (NASDAQ:PACB) This Quarter

Equities analysts forecast that Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) will post sales of $35.54 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pacific Biosciences of California’s earnings. The highest sales estimate is $36.67 million and the lowest is $34.70 million. Pacific Biosciences of California reported sales of $30.61 million during the same quarter last year, which indicates a positive year over year growth rate of 16.1%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Pacific Biosciences of California will report full year sales of $162.37 million for the current year, with estimates ranging from $159.60 million to $165.40 million. For the next financial year, analysts expect that the firm will report sales of $241.70 million, with estimates ranging from $232.60 million to $250.37 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last issued 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 firm had revenue of $33.17 million for the quarter, compared to analysts’ expectations of $32.82 million. Pacific Biosciences of California had a negative net margin of 130.14% and a negative return on equity of 36.11%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS.

PACB has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price objective on Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. Canaccord Genuity Group dropped their price target on Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. Cantor Fitzgerald dropped their price target on Pacific Biosciences of California from $23.00 to $19.00 in a research report on Thursday, May 5th. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $7.00 target price for the company. in a research report on Tuesday, April 26th. Finally, Piper Sandler dropped their target price on Pacific Biosciences of California from $13.00 to $6.00 and set a “na” rating for the company in a research report on Sunday, May 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.29.

Shares of Pacific Biosciences of California stock opened at $5.41 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -6.68 and a beta of 1.43. The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $13.26. The company has a quick ratio of 16.38, a current ratio of 16.87 and a debt-to-equity ratio of 1.22. Pacific Biosciences of California has a twelve month low of $4.51 and a twelve month high of $36.36.

A number of large investors have recently modified their holdings of the stock. Morgan Stanley increased its position in shares of Pacific Biosciences of California by 10.0% during the second quarter. Morgan Stanley now owns 941,831 shares of the biotechnology company’s stock worth $32,935,000 after purchasing an additional 85,278 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Pacific Biosciences of California by 5.0% during the third quarter. Advisor Group Holdings Inc. now owns 8,472 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 400 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Pacific Biosciences of California by 21.5% during the third quarter. Citigroup Inc. now owns 61,711 shares of the biotechnology company’s stock valued at $1,577,000 after buying an additional 10,906 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Pacific Biosciences of California by 250.8% during the third quarter. Allianz Asset Management GmbH now owns 57,977 shares of the biotechnology company’s stock valued at $1,482,000 after buying an additional 41,450 shares during the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new stake in shares of Pacific Biosciences of California during the third quarter valued at $248,000. 96.72% of the stock is owned by institutional investors.

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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