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

Pacific Biosciences of California (NASDAQ:PACB) is set to issue its quarterly earnings data on Tuesday, April 30th.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. The business had revenue of $58.36 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 113.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) earnings per share. 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 Trading Up 6.5 %

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PACB. TD Cowen cut their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Sanford C. Bernstein dropped their price objective on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Barclays reduced their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. 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 report on Friday, February 16th. Finally, Scotiabank cut their price target on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus target price of $7.77.

Insiders Place Their Bets

In related news, Director David W. Meline acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at $176,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director David W. Meline bought 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $176,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 876,611 shares of the company’s stock, valued at $5,224,601.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,359 shares of company stock valued at $218,843. Corporate insiders own 1.40% of the company’s stock.

Pacific Biosciences of California Company Profile

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.