$24.23 Million in Sales Expected for Pacific Biosciences of California (PACB) This Quarter

Brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to post $24.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings. The highest sales estimate is $24.72 million and the lowest is $23.74 million. Pacific Biosciences of California reported sales of $24.92 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.8%. The business is expected to announce its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full-year sales of $24.23 million for the current financial year, with estimates ranging from $112.13 million to $114.80 million. For the next year, analysts expect that the company will post sales of $148.08 million per share, with estimates ranging from $145.12 million to $151.03 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Pacific Biosciences of California.

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Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Pacific Biosciences of California had a negative return on equity of 98.98% and a negative net margin of 98.63%. The business had revenue of $24.94 million during the quarter, compared to analyst estimates of $21.89 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Pacific Biosciences of California’s revenue for the quarter was down 3.1% on a year-over-year basis.

Several research firms have issued reports on PACB. BidaskClub lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.27.

Shares of Pacific Biosciences of California (PACB) opened at $2.78 on Friday. Pacific Biosciences of California has a fifty-two week low of $2.21 and a fifty-two week high of $5.70. The company has a current ratio of 3.55, a quick ratio of 2.74 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $345.03, a PE ratio of -3.12 and a beta of 1.54.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Pacific Biosciences of California by 7.8% in the second quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock worth $13,988,000 after acquiring an additional 283,216 shares during the period. ARK Investment Management LLC boosted its stake in shares of Pacific Biosciences of California by 516.0% in the fourth quarter. ARK Investment Management LLC now owns 213,917 shares of the biotechnology company’s stock worth $565,000 after acquiring an additional 179,192 shares during the period. State Street Corp boosted its stake in shares of Pacific Biosciences of California by 7.5% in the second quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock worth $5,419,000 after acquiring an additional 106,607 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Pacific Biosciences of California by 5.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 510,472 shares of the biotechnology company’s stock worth $1,348,000 after acquiring an additional 28,384 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Pacific Biosciences of California by 8.6% in the second quarter. Northern Trust Corp now owns 1,076,060 shares of the biotechnology company’s stock worth $3,831,000 after acquiring an additional 84,795 shares during the period. 60.25% of the stock is owned by hedge funds and other institutional investors.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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