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

Pacific Biosciences of California (NASDAQ:PACB) is scheduled to announce its earnings results after the market closes on Thursday, November 1st. Analysts expect the company to announce earnings of ($0.16) per share for the quarter.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). Pacific Biosciences of California had a negative return on equity of 95.29% and a negative net margin of 100.09%. The business had revenue of $21.58 million for the quarter, compared to analysts’ expectations of $24.45 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect Pacific Biosciences of California to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

PACB stock opened at $4.08 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.28 and a current ratio of 4.33. Pacific Biosciences of California has a 1-year low of $2.02 and a 1-year high of $5.82. The firm has a market capitalization of $539.64 million, a price-to-earnings ratio of -4.69 and a beta of 2.13.

A hedge fund recently raised its stake in Pacific Biosciences of California stock. Bank of New York Mellon Corp boosted its holdings in Pacific Biosciences of California (NASDAQ:PACB) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 487,890 shares of the biotechnology company’s stock after purchasing an additional 50,699 shares during the period. Bank of New York Mellon Corp owned about 0.37% of Pacific Biosciences of California worth $1,732,000 as of its most recent SEC filing. 70.59% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on PACB shares. Cantor Fitzgerald set a $8.00 price objective on Pacific Biosciences of California and gave the stock a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research raised Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Tuesday, July 24th. BidaskClub cut Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Piper Jaffray Companies reissued a “hold” rating and issued a $3.80 price objective on shares of Pacific Biosciences of California in a research report on Friday, August 3rd. Finally, Cowen started coverage on Pacific Biosciences of California in a research report on Friday, October 19th. They issued an “outperform” rating and a $6.50 price objective on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.31.

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 for Pacific Biosciences of California (NASDAQ:PACB)

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