Wall Street brokerages predict that Pacific Biosciences of California (NASDAQ:PACB) will post $21.69 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $21.63 million and the highest is $21.75 million. Pacific Biosciences of California reported sales of $25.72 million during the same quarter last year, which indicates a negative year over year growth rate of 15.7%. The business is expected to issue its next quarterly earnings report on Thursday, February 1st.

On average, analysts expect that Pacific Biosciences of California will report full year sales of $21.69 million for the current year, with estimates ranging from $90.17 million to $103.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $112.45 million per share, with estimates ranging from $112.44 million to $112.46 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The firm had revenue of $23.54 million during the quarter, compared to the consensus estimate of $28.29 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue was down 6.3% compared to the same quarter last year.

A number of equities research analysts recently commented on PACB shares. CL King downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a report on Thursday, September 28th. First Analysis downgraded Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Pacific Biosciences of California has an average rating of “Hold” and a consensus target price of $6.27.

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in Pacific Biosciences of California by 2.6% in the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock valued at $372,000 after acquiring an additional 2,650 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Pacific Biosciences of California by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock valued at $1,669,000 after acquiring an additional 3,970 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Pacific Biosciences of California by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 5,145 shares during the period. Voya Investment Management LLC lifted its holdings in Pacific Biosciences of California by 17.5% in the second quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock valued at $148,000 after acquiring an additional 6,218 shares during the period. Finally, Stephens Inc. AR lifted its holdings in Pacific Biosciences of California by 2.3% in the second quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock valued at $1,015,000 after acquiring an additional 6,274 shares during the period. 70.51% of the stock is owned by institutional investors.

Shares of Pacific Biosciences of California (NASDAQ PACB) opened at $2.66 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75. Pacific Biosciences of California has a twelve month low of $2.61 and a twelve month high of $5.74.

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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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