Equities research analysts predict that Pacific Biosciences of California (NASDAQ:PACB) will report sales of $23.22 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $22.85 million and the highest is $23.75 million. Pacific Biosciences of California posted sales of $23.55 million during the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The business is scheduled to announce its next earnings results on Thursday, November 1st.

On average, analysts expect that Pacific Biosciences of California will report full-year sales of $90.22 million for the current year, with estimates ranging from $89.86 million to $90.45 million. For the next year, analysts expect that the company will report sales of $127.61 million per share, with estimates ranging from $121.17 million to $136.78 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). The business had revenue of $21.58 million during the quarter, compared to the consensus estimate of $24.45 million. Pacific Biosciences of California had a negative net margin of 100.09% and a negative return on equity of 95.29%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share.

A number of research analysts recently weighed in on the stock. BidaskClub downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $3.80 price target on shares of Pacific Biosciences of California in a research note on Friday, August 3rd. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $4.77.

Pacific Biosciences of California stock opened at $5.19 on Monday. The firm has a market capitalization of $641.24 million, a P/E ratio of -5.97 and a beta of 2.26. Pacific Biosciences of California has a 1-year low of $2.02 and a 1-year high of $5.58. The company has a quick ratio of 3.28, a current ratio of 4.33 and a debt-to-equity ratio of 0.17.

A number of hedge funds have recently made changes to their positions in PACB. Aperio Group LLC lifted its stake in Pacific Biosciences of California by 76.8% in the first quarter. Aperio Group LLC now owns 50,120 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 21,775 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in Pacific Biosciences of California by 343.5% in the first quarter. MetLife Investment Advisors LLC now owns 58,747 shares of the biotechnology company’s stock valued at $120,000 after acquiring an additional 45,502 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Pacific Biosciences of California by 20.0% in the first quarter. Compagnie Lombard Odier SCmA now owns 180,000 shares of the biotechnology company’s stock valued at $366,000 after acquiring an additional 30,000 shares during the last quarter. Swiss National Bank lifted its stake in Pacific Biosciences of California by 13.4% in the first quarter. Swiss National Bank now owns 191,246 shares of the biotechnology company’s stock valued at $392,000 after acquiring an additional 22,600 shares during the last quarter. Finally, A.R.T. Advisors LLC lifted its stake in Pacific Biosciences of California by 138.1% in the first quarter. A.R.T. Advisors LLC now owns 192,196 shares of the biotechnology company’s stock valued at $394,000 after acquiring an additional 111,468 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc engages in the research, development, and manufacture of sequencing systems for genetic analysis. It operates through the following geographical segments: North America, Europe, and Asia Pacific (including the Middle East). The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.

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