Analysts expect Pacific Biosciences of California (NASDAQ:PACB) to post earnings per share of ($0.14) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.16). Pacific Biosciences of California reported earnings of ($0.18) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The firm is scheduled to issue its next earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.68) per share for the current year, with EPS estimates ranging from ($0.69) to ($0.66). For the next year, analysts anticipate that the company will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.61) to ($0.39). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 91.12% and a negative net margin of 110.10%. The business had revenue of $18.16 million during the quarter, compared to analyst estimates of $22.39 million. During the same period in the previous year, the business posted ($0.19) earnings per share. The firm’s quarterly revenue was down 22.9% on a year-over-year basis.

PACB has been the topic of a number of research analyst reports. BidaskClub raised Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the stock a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. ValuEngine raised Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Finally, Cowen initiated coverage on Pacific Biosciences of California in a research note on Friday, October 19th. They issued an “outperform” rating and a $6.50 price target on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $5.64.

NASDAQ:PACB traded down $0.05 during mid-day trading on Tuesday, reaching $7.46. The company’s stock had a trading volume of 2,497,700 shares, compared to its average volume of 1,739,279. The company has a current ratio of 6.65, a quick ratio of 5.74 and a debt-to-equity ratio of 0.11. Pacific Biosciences of California has a twelve month low of $2.02 and a twelve month high of $7.84. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -8.57 and a beta of 2.45.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Pacific Biosciences of California by 3.4% in the 3rd quarter. BlackRock Inc. now owns 9,972,840 shares of the biotechnology company’s stock valued at $53,953,000 after purchasing an additional 330,666 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Pacific Biosciences of California by 23.2% in the 3rd quarter. ARK Investment Management LLC now owns 7,786,485 shares of the biotechnology company’s stock valued at $42,125,000 after purchasing an additional 1,465,192 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Pacific Biosciences of California by 78.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,175,000 shares of the biotechnology company’s stock valued at $27,997,000 after purchasing an additional 2,275,000 shares in the last quarter. Capital International Investors acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at about $22,519,000. Finally, Bellevue Group AG acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at about $13,931,000. 67.58% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Biosciences of California

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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