Wall Street analysts predict that Pacific Biosciences of California (NASDAQ:PACB) will report $21.69 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings, with the highest sales estimate coming in at $21.75 million and the lowest estimate coming in at $21.63 million. Pacific Biosciences of California posted sales of $25.72 million during the same quarter last year, which would indicate a negative year over year growth rate of 15.7%. The business is expected to announce its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Pacific Biosciences of California will report full-year sales of $21.69 million for the current fiscal year, with estimates ranging from $90.17 million to $103.10 million. For the next fiscal year, analysts expect that the firm will report sales of $112.45 million per share, with estimates ranging from $112.44 million to $112.46 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The firm had revenue of $23.54 million during the quarter, compared to analyst estimates of $28.29 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year.

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. First Analysis lowered shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a report on Friday, November 3rd. Finally, CL King lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.27.

A number of institutional investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. grew its holdings in Pacific Biosciences of California by 16.9% during the 2nd quarter. Maverick Capital Ltd. now owns 10,603,944 shares of the biotechnology company’s stock valued at $37,750,000 after buying an additional 1,530,070 shares in the last quarter. Capital World Investors grew its holdings in Pacific Biosciences of California by 532.3% during the 2nd quarter. Capital World Investors now owns 7,840,000 shares of the biotechnology company’s stock valued at $27,910,000 after buying an additional 6,600,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Pacific Biosciences of California by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock valued at $13,988,000 after buying an additional 283,216 shares in the last quarter. State Street Corp grew its holdings in Pacific Biosciences of California by 7.5% during the 2nd quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock valued at $5,419,000 after buying an additional 106,607 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Pacific Biosciences of California by 8.6% during the 2nd quarter. Northern Trust Corp now owns 1,076,060 shares of the biotechnology company’s stock valued at $3,831,000 after buying an additional 84,795 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

Shares of Pacific Biosciences of California (NASDAQ PACB) opened at $2.70 on Friday. The stock has a market cap of $313.87, a P/E ratio of -2.97 and a beta of 1.75. Pacific Biosciences of California has a fifty-two week low of $2.51 and a fifty-two week high of $5.74. The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 0.10.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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