$27.58 Million in Sales Expected for Pacific Biosciences of California (NASDAQ:PACB) This Quarter

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Wall Street analysts expect that Pacific Biosciences of California (NASDAQ:PACB) will announce $27.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Pacific Biosciences of California’s earnings. The highest sales estimate is $31.50 million and the lowest is $24.50 million. Pacific Biosciences of California reported sales of $18.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 51.9%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Pacific Biosciences of California will report full-year sales of $99.92 million for the current fiscal year, with estimates ranging from $93.90 million to $109.34 million. For the next financial year, analysts forecast that the business will post sales of $137.89 million, with estimates ranging from $114.10 million to $169.79 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The company had revenue of $24.62 million during the quarter, compared to analyst estimates of $22.27 million.

A number of research firms have issued reports on PACB. Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the stock a “hold” rating in a research report on Thursday, June 20th. ValuEngine lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Friday, July 19th. BidaskClub lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.50.

Institutional investors have recently added to or reduced their stakes in the stock. Syquant Capital Sas lifted its position in shares of Pacific Biosciences of California by 43.6% during the second quarter. Syquant Capital Sas now owns 712,227 shares of the biotechnology company’s stock worth $4,309,000 after acquiring an additional 216,101 shares in the last quarter. Boston Private Wealth LLC bought a new position in Pacific Biosciences of California in the 2nd quarter worth about $115,000. Marshall Wace LLP boosted its stake in Pacific Biosciences of California by 54.4% in the 1st quarter. Marshall Wace LLP now owns 957,214 shares of the biotechnology company’s stock worth $6,921,000 after purchasing an additional 337,213 shares during the period. Aperio Group LLC grew its holdings in Pacific Biosciences of California by 20.3% during the 2nd quarter. Aperio Group LLC now owns 76,246 shares of the biotechnology company’s stock valued at $461,000 after buying an additional 12,844 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in Pacific Biosciences of California during the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 69.71% of the company’s stock.

NASDAQ PACB traded up $0.02 on Friday, hitting $5.51. 939,995 shares of the stock traded hands, compared to its average volume of 1,609,149. The business’s fifty day moving average is $5.55 and its two-hundred day moving average is $6.57. Pacific Biosciences of California has a 12 month low of $3.90 and a 12 month high of $7.84. The firm has a market capitalization of $853.52 million, a price-to-earnings ratio of -7.25 and a beta of 1.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00.

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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