Equities analysts expect Pacific Biosciences of California (NASDAQ:PACB) to post $25.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Pacific Biosciences of California’s earnings, with the lowest sales estimate coming in at $22.76 million and the highest estimate coming in at $29.46 million. Pacific Biosciences of California posted sales of $19.53 million during the same quarter last year, which suggests a positive year over year growth rate of 30.3%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, February 6th.

On average, analysts expect that Pacific Biosciences of California will report full year sales of $88.42 million for the current year, with estimates ranging from $85.72 million to $92.43 million. For the next fiscal year, analysts forecast that the firm will report sales of $127.10 million, with estimates ranging from $107.57 million to $163.34 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 136.85% and a negative net margin of 139.22%. The business had revenue of $21.92 million during the quarter, compared to the consensus estimate of $28.02 million.

Several equities research analysts recently commented on PACB shares. Zacks Investment Research downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Tuesday, January 7th. BidaskClub downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Friday, January 10th. ValuEngine raised Pacific Biosciences of California from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $7.00 target price on shares of Pacific Biosciences of California in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.25.

NASDAQ PACB remained flat at $$4.95 during trading hours on Thursday. The company had a trading volume of 1,243,469 shares, compared to its average volume of 2,727,484. Pacific Biosciences of California has a 52 week low of $4.37 and a 52 week high of $7.50. The stock has a 50 day moving average price of $5.13 and a 200 day moving average price of $5.27. The company has a market capitalization of $757.17 million, a P/E ratio of -6.51 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.52.

A number of large investors have recently made changes to their positions in the business. Ballentine Partners LLC acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $67,000. Millennium Management LLC boosted its position in Pacific Biosciences of California by 32,667.2% during the third quarter. Millennium Management LLC now owns 1,888,900 shares of the biotechnology company’s stock worth $9,746,000 after purchasing an additional 1,894,700 shares in the last quarter. Barclays PLC boosted its position in Pacific Biosciences of California by 93.2% during the third quarter. Barclays PLC now owns 555,594 shares of the biotechnology company’s stock worth $2,866,000 after purchasing an additional 267,982 shares in the last quarter. California State Teachers Retirement System boosted its position in Pacific Biosciences of California by 1.2% during the third quarter. California State Teachers Retirement System now owns 221,796 shares of the biotechnology company’s stock worth $1,144,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in Pacific Biosciences of California by 4,581.0% during the third quarter. Pictet Asset Management Ltd. now owns 1,483,872 shares of the biotechnology company’s stock worth $7,657,000 after purchasing an additional 1,452,172 shares in the last quarter. 71.38% of the stock is currently owned by institutional investors and hedge funds.

Pacific Biosciences of California 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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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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