Research Analysts Issue Forecasts for Pacific Biosciences of California’s Q1 2020 Earnings (PACB)

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Pacific Biosciences of California (NASDAQ:PACB) – Equities research analysts at Piper Jaffray Companies issued their Q1 2020 EPS estimates for Pacific Biosciences of California in a research report issued on Monday, February 11th. Piper Jaffray Companies analyst W. Quirk expects that the biotechnology company will post earnings per share of ($0.09) for the quarter. Piper Jaffray Companies also issued estimates for Pacific Biosciences of California’s Q2 2020 earnings at ($0.09) EPS, Q3 2020 earnings at ($0.08) EPS and Q4 2020 earnings at ($0.08) EPS.

Several other brokerages have also issued reports on PACB. Cantor Fitzgerald lowered Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Monday, November 12th. ValuEngine lowered Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. BidaskClub lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Finally, Cowen lowered Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a report on Friday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.64.

Shares of NASDAQ:PACB opened at $7.07 on Wednesday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -8.13 and a beta of 2.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.74 and a current ratio of 6.65. Pacific Biosciences of California has a 52-week low of $2.02 and a 52-week high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Monday, February 11th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The firm had revenue of $19.53 million during the quarter, compared to the consensus estimate of $21.08 million. Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%.

In other Pacific Biosciences of California news, insider Kathy Ordonez sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $7.54, for a total value of $188,500.00. Following the transaction, the insider now owns 68,750 shares in the company, valued at $518,375. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Pacific Biosciences of California by 12.9% in the fourth quarter. BlackRock Inc. now owns 11,256,330 shares of the biotechnology company’s stock valued at $83,298,000 after purchasing an additional 1,283,490 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Pacific Biosciences of California by 23.2% in the third quarter. ARK Investment Management LLC now owns 7,786,485 shares of the biotechnology company’s stock valued at $42,125,000 after purchasing an additional 1,465,192 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pacific Biosciences of California by 6.4% in the third quarter. Vanguard Group Inc. now owns 6,311,846 shares of the biotechnology company’s stock valued at $34,148,000 after purchasing an additional 377,272 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Pacific Biosciences of California by 6.4% in the third quarter. Vanguard Group Inc now owns 6,311,846 shares of the biotechnology company’s stock valued at $34,148,000 after purchasing an additional 377,272 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Pacific Biosciences of California by 78.4% in the third quarter. Point72 Asset Management L.P. now owns 5,175,000 shares of the biotechnology company’s stock valued at $27,997,000 after purchasing an additional 2,275,000 shares in the last quarter. Institutional investors own 70.99% of the company’s stock.

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

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