Zacks: Brokerages Anticipate Pacific Biosciences of California (PACB) Will Announce Earnings of -$0.14 Per Share

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Wall Street brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to report earnings of ($0.14) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pacific Biosciences of California’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.12). Pacific Biosciences of California posted earnings of ($0.18) per share in the same quarter last year, which indicates a positive year over year growth rate of 22.2%. The company is scheduled to announce 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 ($0.67) per share for the current financial year, with EPS estimates ranging from ($0.69) to ($0.66). For the next financial year, analysts forecast that the firm will report earnings of ($0.48) per share, with EPS estimates ranging from ($0.61) to ($0.39). Zacks Investment Research’s EPS 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 announced its earnings results on Thursday, November 1st. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The business had revenue of $18.16 million for the quarter, compared to analyst estimates of $22.39 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The business’s revenue for the quarter was down 22.9% on a year-over-year basis.

PACB has been the topic of a number of analyst reports. BidaskClub upgraded shares of Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the stock a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. ValuEngine upgraded shares of Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Finally, Cowen assumed coverage on shares of Pacific Biosciences of California in a research report on Friday, October 19th. They set an “outperform” rating and a $6.50 target price on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Pacific Biosciences of California presently has an average rating of “Buy” and an average price target of $5.64.

Shares of NASDAQ:PACB opened at $7.61 on Tuesday. Pacific Biosciences of California has a 12-month low of $2.02 and a 12-month high of $7.84. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -8.75 and a beta of 2.45. The company has a current ratio of 6.65, a quick ratio of 5.74 and a debt-to-equity ratio of 0.11.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Pacific Biosciences of California by 7.8% during the 1st quarter. BlackRock Inc. now owns 8,792,739 shares of the biotechnology company’s stock worth $18,023,000 after acquiring an additional 637,115 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Pacific Biosciences of California by 38.1% during the 2nd 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 in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of Pacific Biosciences of California by 9.2% during the 3rd 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 in the last quarter. Northern Trust Corp boosted its position in shares of Pacific Biosciences of California by 9.8% during the 1st quarter. Northern Trust Corp now owns 1,323,140 shares of the biotechnology company’s stock worth $2,713,000 after acquiring an additional 118,214 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Pacific Biosciences of California by 72.8% during the 1st quarter. UBS Group AG now owns 301,726 shares of the biotechnology company’s stock worth $619,000 after acquiring an additional 127,112 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Pacific Biosciences of California Company Profile

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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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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