Wall Street analysts expect that Pacific Biosciences of California (NASDAQ:PACB) will announce $25.44 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The highest sales estimate is $29.46 million and the lowest is $22.76 million. Pacific Biosciences of California reported sales of $19.53 million in the same quarter last year, which indicates a positive year-over-year growth rate of 30.3%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, February 6th.
According to Zacks, analysts expect that Pacific Biosciences of California will report full year sales of $88.42 million for the current financial year, with estimates ranging from $85.72 million to $92.43 million. For the next financial year, analysts expect that the company will report sales of $127.10 million, with estimates ranging from $107.57 million to $163.34 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Pacific Biosciences of California.
Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). The company had revenue of $21.92 million for the quarter, compared to analysts’ expectations of $28.02 million. Pacific Biosciences of California had a negative net margin of 139.22% and a negative return on equity of 136.85%.
A number of brokerages have recently weighed in on PACB. BidaskClub lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Friday, January 10th. ValuEngine raised shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Piper Jaffray Companies reissued a “buy” rating and set a $7.00 price objective on shares of Pacific Biosciences of California in a report on Wednesday, December 18th. Finally, Zacks Investment Research lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $6.00 price objective on the stock. in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.25.
A number of large investors have recently bought and sold shares of PACB. Cubist Systematic Strategies LLC purchased a new stake in Pacific Biosciences of California in the second quarter valued at $28,000. Point72 Hong Kong Ltd purchased a new stake in Pacific Biosciences of California in the second quarter valued at $37,000. Quest Capital Management Inc. ADV purchased a new stake in Pacific Biosciences of California in the third quarter valued at $39,000. Clean Yield Group boosted its holdings in Pacific Biosciences of California by 160.0% in the third quarter. Clean Yield Group now owns 13,000 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Pacific Biosciences of California in the fourth quarter valued at $67,000. 70.57% of the stock is currently owned by institutional investors.
Shares of PACB traded down $0.11 during trading hours on Thursday, reaching $4.78. 1,312,812 shares of the company traded hands, compared to its average volume of 3,070,317. The stock has a market capitalization of $742.62 million, a P/E ratio of -6.29 and a beta of 1.70. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.84. Pacific Biosciences of California has a 12-month low of $4.37 and a 12-month high of $7.50. The business has a fifty day moving average price of $5.12 and a 200-day moving average price of $5.25.
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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