Analysts Offer Predictions for Pacific Biosciences of California’s Q1 2018 Earnings (NASDAQ:PACB)

Pacific Biosciences of California (NASDAQ:PACB) – Analysts at William Blair decreased their Q1 2018 earnings per share (EPS) estimates for shares of Pacific Biosciences of California in a report issued on Wednesday, Zacks Investment Research reports. William Blair analyst A. Murphy now anticipates that the biotechnology company will earn ($0.19) per share for the quarter, down from their previous estimate of ($0.16). William Blair also issued estimates for Pacific Biosciences of California’s Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.65) EPS, Q1 2019 earnings at ($0.14) EPS, Q2 2019 earnings at ($0.13) EPS and FY2019 earnings at ($0.46) EPS.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 1st. The biotechnology company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. The firm had revenue of $24.94 million during the quarter, compared to analysts’ expectations of $21.89 million. Pacific Biosciences of California had a negative return on equity of 96.55% and a negative net margin of 98.63%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share.

Several other equities analysts have also recently commented on the company. BidaskClub cut Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, First Analysis lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Pacific Biosciences of California currently has a consensus rating of “Hold” and an average target price of $6.27.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at $2.54 on Friday. Pacific Biosciences of California has a one year low of $2.21 and a one year high of $5.74. The company has a current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 0.10.

Institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased its stake in Pacific Biosciences of California by 35.1% in the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after buying an additional 7,225 shares in the last quarter. Voya Investment Management LLC grew its position 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 worth $148,000 after acquiring an additional 6,218 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth about $154,000. BlueCrest Capital Management Ltd purchased a new position in Pacific Biosciences of California in the second quarter worth about $155,000. Finally, Aperio Group LLC grew its position in Pacific Biosciences of California by 105.5% in the third quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 21,766 shares in the last quarter. 70.86% of the stock is currently owned by 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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