Analysts expect that Pacific Biosciences (NASDAQ:PACB) will announce sales of $24.58 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pacific Biosciences’ earnings, with estimates ranging from $23.74 million to $25.27 million. Pacific Biosciences posted sales of $24.92 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Pacific Biosciences will report full-year sales of $112.37 million for the current fiscal year, with estimates ranging from $112.13 million to $112.72 million. For the next financial year, analysts forecast that the company will report sales of $146.88 million per share, with estimates ranging from $144.50 million to $151.03 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Pacific Biosciences.
Pacific Biosciences (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.02. The company had revenue of $24.94 million for the quarter, compared to analyst estimates of $21.89 million. Pacific Biosciences had a negative return on equity of 98.98% and a negative net margin of 98.63%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share.
PACB has been the topic of a number of recent research reports. BidaskClub raised Pacific Biosciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Zacks Investment Research lowered Pacific Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.39.
A number of large investors have recently bought and sold shares of PACB. Bank of New York Mellon Corp raised its position in Pacific Biosciences by 23.2% in the third quarter. Bank of New York Mellon Corp now owns 459,558 shares of the biotechnology company’s stock valued at $2,412,000 after purchasing an additional 86,415 shares during the period. Schwab Charles Investment Management Inc. raised its position in Pacific Biosciences by 47.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 408,638 shares of the biotechnology company’s stock valued at $2,146,000 after purchasing an additional 132,379 shares during the period. Moloney Securities Asset Management LLC purchased a new stake in Pacific Biosciences in the fourth quarter valued at $154,000. Mutual of America Capital Management LLC raised its position in Pacific Biosciences by 5.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 510,472 shares of the biotechnology company’s stock valued at $1,348,000 after purchasing an additional 28,384 shares during the period. Finally, ING Groep NV purchased a new stake in Pacific Biosciences in the fourth quarter valued at $549,000. Institutional investors own 58.93% of the company’s stock.
NASDAQ PACB traded up $0.03 on Friday, reaching $2.62. 39,855 shares of the company were exchanged, compared to its average volume of 1,064,110. The firm has a market capitalization of $332.32, a P/E ratio of -2.98 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.74 and a current ratio of 3.55. Pacific Biosciences has a fifty-two week low of $2.02 and a fifty-two week high of $5.70.
Pacific Biosciences 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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