Zacks: Analysts Expect Pacific Biosciences of California (NASDAQ:PACB) Will Announce Quarterly Sales of $13.84 Million

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Equities research analysts expect Pacific Biosciences of California (NASDAQ:PACB) to report $13.84 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $10.69 million and the highest is $17.34 million. Pacific Biosciences of California posted sales of $24.62 million during the same quarter last year, which suggests a negative year over year growth rate of 43.8%. The firm is expected to report its next earnings results on Tuesday, August 4th.

On average, analysts expect that Pacific Biosciences of California will report full-year sales of $83.45 million for the current fiscal year, with estimates ranging from $74.41 million to $99.93 million. For the next fiscal year, analysts forecast that the company will report sales of $143.39 million, with estimates ranging from $115.50 million to $173.32 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Wednesday, May 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). Pacific Biosciences of California had a negative net margin of 58.35% and a negative return on equity of 131.21%. The business had revenue of $15.60 million for the quarter, compared to analyst estimates of $20.10 million.

PACB has been the subject of several research reports. Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $4.00 price target for the company. in a research note on Wednesday, July 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $5.00 price target on shares of Pacific Biosciences of California in a research note on Wednesday, June 10th. BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler decreased their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.50.

A number of institutional investors have recently made changes to their positions in PACB. Mercer Global Advisors Inc. ADV acquired a new stake in Pacific Biosciences of California during the 1st quarter valued at $31,000. Tower Research Capital LLC TRC lifted its holdings in Pacific Biosciences of California by 927.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,057 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 6,370 shares during the last quarter. Royal Bank of Canada lifted its holdings in Pacific Biosciences of California by 67.4% during the 1st quarter. Royal Bank of Canada now owns 11,882 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 4,782 shares during the last quarter. Vestcor Investment Management Corp acquired a new stake in Pacific Biosciences of California during the 4th quarter valued at $51,000. Finally, Blueshift Asset Management LLC acquired a new stake in Pacific Biosciences of California during the 4th quarter valued at $74,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PACB traded up $0.14 during mid-day trading on Wednesday, reaching $3.74. The stock had a trading volume of 882,800 shares, compared to its average volume of 2,070,259. The firm has a 50 day simple moving average of $3.62 and a two-hundred day simple moving average of $3.90. Pacific Biosciences of California has a twelve month low of $2.20 and a twelve month high of $6.13. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $577.12 million, a PE ratio of -11.00 and a beta of 1.69.

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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