Pacific Biosciences of California (PACB) Set to Announce Quarterly Earnings on Tuesday

Pacific Biosciences of California (NASDAQ:PACB) is scheduled to announce its earnings results 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) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.02. The company had revenue of $58.36 million during the quarter, compared to analyst estimates of $57.96 million. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. Pacific Biosciences of California’s quarterly revenue was up 113.3% on a year-over-year basis. During the same period in the previous year, the business 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

NASDAQ PACB opened at $1.47 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.21. The stock’s 50 day simple moving average is $3.66 and its 200-day simple moving average is $6.34. The company has a market cap of $393.89 million, a PE ratio of -1.21 and a beta of 1.83. Pacific Biosciences of California has a 1-year low of $1.25 and a 1-year high of $14.55.

Insider Buying and Selling

In other news, Director David W. Meline bought 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $4.40 per share, for a total transaction 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 legal filing with the SEC, which can be accessed through this link. In related news, insider Oene Mark Van sold 33,560 shares of Pacific Biosciences of California stock in a transaction on Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the sale, the insider now directly owns 876,611 shares in the company, valued at approximately $5,224,601.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David W. Meline purchased 40,000 shares of Pacific Biosciences of California stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $176,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 37,359 shares of company stock worth $218,843. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $2.50 in a research note on Thursday, April 18th. TD Cowen dropped their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a report on Wednesday, April 17th. Scotiabank reduced their target price on shares of 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. JPMorgan Chase & Co. cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Finally, Sanford C. Bernstein reduced their price target 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California currently has a consensus rating of “Hold” and an average price target 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.