Pacific Biosciences of California (PACB) Scheduled to Post Earnings on Tuesday

Pacific Biosciences of California (NASDAQ:PACB) will be issuing its quarterly earnings data on Tuesday, April 30th.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. The firm had revenue of $58.36 million for the quarter, compared to the consensus estimate of $57.96 million. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The business’s revenue for the quarter was up 113.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. On average, analysts expect Pacific Biosciences of California to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.47 on Monday. The company has a market capitalization of $393.89 million, a price-to-earnings ratio of -1.21 and a beta of 1.83. Pacific Biosciences of California has a 12 month low of $1.25 and a 12 month high of $14.55. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $3.66 and a 200 day moving average of $6.34.

Insider Buying and Selling

In related news, Director David W. Meline purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $4.40 per share, with a total value of $176,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $176,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director David W. Meline acquired 40,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $176,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the transaction, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $218,843 in the last 90 days. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PACB. Barclays decreased their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein cut their price objective on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating for the company in a report on Thursday, April 18th. UBS Group dropped their target price on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Finally, TD Cowen decreased their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.77.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.