William Blair Brokers Lower Earnings Estimates for Pacific Biosciences of California (PACB)

Pacific Biosciences of California (NASDAQ:PACB) – William Blair lowered their Q1 2018 earnings per share estimates for Pacific Biosciences of California in a research report issued on Wednesday. William Blair analyst A. Murphy now forecasts that the biotechnology company will post earnings per share of ($0.19) for the quarter, down from their prior estimate of ($0.16). William Blair also issued estimates for Pacific Biosciences of California’s Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.65) EPS, Q1 2019 earnings at ($0.14) EPS, Q2 2019 earnings at ($0.13) EPS and FY2019 earnings at ($0.46) EPS.

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, First Analysis cut shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.27.

Pacific Biosciences of California (PACB) opened at $2.43 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15. Pacific Biosciences of California has a 1 year low of $2.25 and a 1 year high of $5.74. The company has a market cap of $282.49, a P/E ratio of -2.73 and a beta of 1.41.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.02. The firm had revenue of $24.94 million during the quarter, compared to analysts’ expectations of $21.89 million. Pacific Biosciences of California had a negative net margin of 98.63% and a negative return on equity of 96.55%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS.

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC lifted its position in shares of Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 7,225 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 6,218 shares during the last quarter. Aperio Group LLC lifted its position in shares of Pacific Biosciences of California by 105.5% during the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 21,766 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth $155,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth $154,000. 70.51% of the stock is owned by institutional investors.

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About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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

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