Pacific Biosciences of California, Inc. (NASDAQ:PACB) Expected to Post Earnings of -$0.34 Per Share

Analysts predict that Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) will report earnings per share (EPS) of ($0.34) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Pacific Biosciences of California’s earnings, with estimates ranging from ($0.37) to ($0.29). Pacific Biosciences of California posted earnings of ($0.21) per share in the same quarter last year, which suggests a negative year over year growth rate of 61.9%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Pacific Biosciences of California will report full year earnings of ($1.38) per share for the current financial year, with EPS estimates ranging from ($1.48) to ($1.32). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.19) per share, with EPS estimates ranging from ($1.33) to ($0.96). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Pacific Biosciences of California had a negative net margin of 130.14% and a negative return on equity of 36.11%. The firm had revenue of $33.17 million during the quarter, compared to analysts’ expectations of $32.82 million. During the same quarter in the previous year, the company posted ($0.18) EPS. Pacific Biosciences of California’s revenue for the quarter was up 14.4% on a year-over-year basis.

PACB has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. StockNews.com began coverage on Pacific Biosciences of California in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Canaccord Genuity Group dropped their price objective on Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 16th. Cantor Fitzgerald decreased their target price on shares of Pacific Biosciences of California from $23.00 to $19.00 in a research note on Thursday, May 5th. Finally, Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.29.

NASDAQ:PACB traded down $0.02 on Wednesday, reaching $5.37. 5,247,027 shares of the company’s stock were exchanged, compared to its average volume of 6,161,861. Pacific Biosciences of California has a 52 week low of $4.51 and a 52 week high of $36.36. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -6.63 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 16.87 and a quick ratio of 16.38. The stock has a fifty day simple moving average of $7.64 and a 200-day simple moving average of $13.48.

A number of hedge funds have recently made changes to their positions in PACB. Cantor Fitzgerald L. P. bought a new position in shares of Pacific Biosciences of California in the first quarter worth approximately $2,503,000. The Manufacturers Life Insurance Company lifted its position in Pacific Biosciences of California by 150.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 246,142 shares of the biotechnology company’s stock valued at $2,331,000 after acquiring an additional 147,698 shares in the last quarter. Capital International Investors boosted its stake in Pacific Biosciences of California by 5.6% during the 1st quarter. Capital International Investors now owns 12,781,855 shares of the biotechnology company’s stock valued at $116,315,000 after purchasing an additional 675,537 shares during the last quarter. Blue Water Life Science Advisors LP bought a new stake in shares of Pacific Biosciences of California in the 1st quarter worth $24,206,000. Finally, Walleye Capital LLC raised its stake in shares of Pacific Biosciences of California by 414.7% in the first quarter. Walleye Capital LLC now owns 51,225 shares of the biotechnology company’s stock worth $466,000 after purchasing an additional 41,272 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors.

About Pacific Biosciences of California (Get Rating)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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