Wall Street brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to announce earnings of ($0.14) per share for the current quarter, Zacks reports. Three analysts have made estimates for Pacific Biosciences of California’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.16). Pacific Biosciences of California reported earnings of ($0.18) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.2%. The business is scheduled to report its next quarterly earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.68) per share for the current year, with EPS estimates ranging from ($0.69) to ($0.66). For the next financial year, analysts forecast that the company will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.61) to ($0.39). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). The firm had revenue of $18.16 million for the quarter, compared to analysts’ expectations of $22.39 million. Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The firm’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share.

Several research analysts have commented on PACB shares. Cantor Fitzgerald lowered shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Monday, November 12th. BidaskClub raised shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating in a research note on Saturday, November 3rd. ValuEngine raised shares of Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Finally, Cowen started coverage on shares of Pacific Biosciences of California in a research note on Friday, October 19th. They set an “outperform” rating and a $6.50 price objective for the company. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.64.

In other news, insider Kathy Ordonez sold 25,000 shares of Pacific Biosciences of California stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $7.54, for a total transaction of $188,500.00. Following the completion of the sale, the insider now directly owns 68,750 shares in the company, valued at $518,375. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Pacific Biosciences of California by 9.7% during the second quarter. BlackRock Inc. now owns 9,642,174 shares of the biotechnology company’s stock worth $34,230,000 after acquiring an additional 849,435 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Pacific Biosciences of California by 38.1% during the second quarter. Point72 Asset Management L.P. now owns 2,900,000 shares of the biotechnology company’s stock worth $10,295,000 after acquiring an additional 800,000 shares during the last quarter. Moloney Securities Asset Management LLC grew its stake in shares of Pacific Biosciences of California by 9.2% during the third quarter. Moloney Securities Asset Management LLC now owns 467,961 shares of the biotechnology company’s stock worth $2,532,000 after acquiring an additional 39,500 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Pacific Biosciences of California by 47.5% during the second quarter. ARK Investment Management LLC now owns 6,321,293 shares of the biotechnology company’s stock worth $22,441,000 after acquiring an additional 2,036,596 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Pacific Biosciences of California by 18.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 614,288 shares of the biotechnology company’s stock worth $2,181,000 after acquiring an additional 95,551 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

NASDAQ PACB opened at $7.68 on Thursday. The company has a quick ratio of 5.74, a current ratio of 6.65 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -8.83 and a beta of 2.63. Pacific Biosciences of California has a 52 week low of $2.02 and a 52 week high of $7.84.

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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