Brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to report sales of $27.58 million for the current quarter, according to Zacks Investment Research. Three analysts have provided 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 posted sales of $18.16 million during the same quarter last year, which suggests a positive year over year growth rate of 51.9%. The company is scheduled to report its next quarterly earnings results 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 fiscal year, analysts anticipate that the firm will post sales of $137.89 million, with estimates ranging from $114.10 million to $169.79 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The firm had revenue of $24.62 million during the quarter, compared to analysts’ expectations 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 analysts have recently issued reports on PACB shares. Zacks Investment Research raised 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 report on Thursday, June 20th. ValuEngine lowered shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, BidaskClub upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average price target of $7.50.

Large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in shares of Pacific Biosciences of California during the second quarter worth $28,000. Point72 Hong Kong Ltd bought a new position in shares of Pacific Biosciences of California during the second quarter worth $37,000. Quantamental Technologies LLC bought a new position in shares of Pacific Biosciences of California during the first quarter worth $53,000. FNY Investment Advisers LLC boosted its position in shares of Pacific Biosciences of California by 211.1% during the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Bluefin Trading LLC bought a new position in shares of Pacific Biosciences of California during the second quarter worth $91,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Shares of NASDAQ PACB traded down $0.10 during midday trading on Friday, reaching $5.61. The stock had a trading volume of 587,530 shares, compared to its average volume of 1,325,804. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $6.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. The company has a market capitalization of $885.66 million, a price-to-earnings ratio of -7.38 and a beta of 1.93. Pacific Biosciences of California has a 12-month low of $3.90 and a 12-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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