Pacific Biosciences of California (NASDAQ:PACB) Expected to Announce Quarterly Sales of $25.47 Million

Share on StockTwits

Wall Street analysts forecast that Pacific Biosciences of California (NASDAQ:PACB) will report $25.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pacific Biosciences of California’s earnings, with the highest sales estimate coming in at $29.46 million and the lowest estimate coming in at $22.76 million. Pacific Biosciences of California posted sales of $19.53 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.4%. The firm is expected to report its next quarterly earnings results on Monday, February 10th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full-year sales of $88.45 million for the current year, with estimates ranging from $85.72 million to $92.43 million. For the next financial year, analysts expect that the firm will report sales of $126.80 million, with estimates ranging from $107.57 million to $163.34 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative net margin of 139.22% and a negative return on equity of 136.85%. The business had revenue of $21.92 million during the quarter, compared to the consensus estimate of $28.02 million.

Several equities research analysts have recently commented on the stock. Piper Jaffray Companies upgraded shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 target price on the stock in a research note on Tuesday, October 15th. ValuEngine upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.00.

Shares of NASDAQ:PACB traded up $0.09 on Monday, hitting $5.52. The stock had a trading volume of 1,601,249 shares, compared to its average volume of 1,281,015. Pacific Biosciences of California has a twelve month low of $4.37 and a twelve month high of $7.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.52. The firm’s 50 day moving average price is $4.94 and its 200-day moving average price is $5.56. The company has a market capitalization of $816.83 million, a price-to-earnings ratio of -7.26 and a beta of 1.69.

A number of hedge funds and other institutional investors have recently modified their holdings of PACB. Millennium Management LLC lifted its position in Pacific Biosciences of California by 32,667.2% during the 3rd quarter. Millennium Management LLC now owns 1,888,900 shares of the biotechnology company’s stock worth $9,746,000 after buying an additional 1,894,700 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Pacific Biosciences of California by 4,581.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,483,872 shares of the biotechnology company’s stock valued at $7,657,000 after buying an additional 1,452,172 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Pacific Biosciences of California in the 2nd quarter valued at approximately $6,332,000. ARP Americas LP boosted its holdings in shares of Pacific Biosciences of California by 22.6% in the 3rd quarter. ARP Americas LP now owns 5,372,620 shares of the biotechnology company’s stock valued at $27,723,000 after buying an additional 989,998 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Pacific Biosciences of California in the 3rd quarter valued at approximately $5,062,000. Institutional investors and hedge funds own 71.58% of the company’s stock.

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.

Featured Article: What is a growth and income fund?

Get a free copy of the Zacks research report on Pacific Biosciences of California (PACB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Vertex One Asset Management Inc. Buys Shares of 150,000 PropTech Acquisition Corporation
Vertex One Asset Management Inc. Buys Shares of 150,000 PropTech Acquisition Corporation
Chevron Co.  Shares Sold by Miles Capital Inc.
Chevron Co. Shares Sold by Miles Capital Inc.
SPDR Bloomberg Barclays High Yield Bond ETF  Stock Holdings Trimmed by Miles Capital Inc.
SPDR Bloomberg Barclays High Yield Bond ETF Stock Holdings Trimmed by Miles Capital Inc.
Miles Capital Inc. Sells 343 Shares of HCA Healthcare Inc
Miles Capital Inc. Sells 343 Shares of HCA Healthcare Inc
Vanguard Total Bond Market ETF  Stock Position Lowered by Miles Capital Inc.
Vanguard Total Bond Market ETF Stock Position Lowered by Miles Capital Inc.
iShares Core S&P 500 ETF  Shares Bought by Miles Capital Inc.
iShares Core S&P 500 ETF Shares Bought by Miles Capital Inc.


© 2006-2020 Ticker Report