Brokerages predict that Pacific Biosciences of California (NASDAQ:PACB) will post earnings of ($0.15) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Pacific Biosciences of California’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.16). Pacific Biosciences of California posted earnings per share of ($0.19) during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.1%. The business is expected to issue its next earnings report 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 year, with EPS estimates ranging from ($0.68) to ($0.61). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.44) per share, with EPS estimates ranging from ($0.49) to ($0.40). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Pacific Biosciences of California.

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

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

Institutional investors and hedge funds have recently modified their holdings of the business. Water Island Capital LLC grew its position in shares of Pacific Biosciences of California by 165.6% in the first quarter. Water Island Capital LLC now owns 3,623,677 shares of the biotechnology company’s stock valued at $26,199,000 after purchasing an additional 2,259,146 shares during the period. ARP Americas LP boosted its stake in Pacific Biosciences of California by 207.3% in the 1st quarter. ARP Americas LP now owns 3,117,632 shares of the biotechnology company’s stock worth $22,540,000 after buying an additional 2,103,200 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in Pacific Biosciences of California by 42.6% in the 1st quarter. Alpine Associates Management Inc. now owns 6,072,459 shares of the biotechnology company’s stock valued at $43,905,000 after buying an additional 1,814,941 shares during the period. Gabelli Funds LLC grew its holdings in Pacific Biosciences of California by 66.2% in the 1st quarter. Gabelli Funds LLC now owns 2,900,106 shares of the biotechnology company’s stock valued at $20,968,000 after buying an additional 1,155,636 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Pacific Biosciences of California in the 2nd quarter valued at about $6,332,000. Institutional investors own 69.71% of the company’s stock.

Shares of NASDAQ PACB traded up $0.02 during trading on Friday, reaching $5.51. The company had a trading volume of 939,995 shares, compared to its average volume of 1,609,149. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Pacific Biosciences of California has a twelve month low of $3.90 and a twelve month high of $7.84. The stock has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $6.57. The stock has a market capitalization of $853.52 million, a PE ratio of -7.25 and a beta of 1.83.

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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