-$0.14 EPS Expected for Pacific Biosciences of California (NASDAQ:PACB) This Quarter

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Brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to post ($0.14) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.13). Pacific Biosciences of California reported earnings of ($0.19) per share in the same quarter last year, which would suggest a positive year over year growth rate of 26.3%. The business is scheduled to announce its next earnings results on Thursday, November 7th.

On average, analysts expect that Pacific Biosciences of California will report full-year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.61). For the next fiscal year, analysts expect that the company will report earnings of ($0.44) per share, with EPS estimates ranging from ($0.49) to ($0.40). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Pacific Biosciences of California.

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

A number of equities analysts recently commented on PACB shares. BidaskClub downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the stock a “hold” rating in a research note on Thursday, June 20th. Finally, ValuEngine downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Pacific Biosciences of California currently has an average rating of “Hold” and a consensus target price of $7.50.

Several hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new position in Pacific Biosciences of California in the second quarter valued at $28,000. Point72 Hong Kong Ltd acquired a new position in Pacific Biosciences of California in the second quarter valued at $37,000. Quantamental Technologies LLC acquired a new position in Pacific Biosciences of California in the first quarter valued at $53,000. FNY Investment Advisers LLC boosted its stake in Pacific Biosciences of California by 211.1% in the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 7,600 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in Pacific Biosciences of California in the first quarter valued at $104,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.

Shares of PACB stock traded up $0.05 on Friday, reaching $5.56. 397,208 shares of the stock were exchanged, compared to its average volume of 1,600,366. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $5.55 and its 200 day moving average price is $6.56. The company has a market capitalization of $850.49 million, a price-to-earnings ratio of -7.32 and a beta of 1.83. Pacific Biosciences of California has a twelve month low of $3.90 and a twelve month high of $7.84.

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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