Zacks: Brokerages Anticipate Pacific Biosciences (PACB) Will Post Earnings of -$0.19 Per Share

Brokerages expect Pacific Biosciences (NASDAQ:PACB) to post ($0.19) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pacific Biosciences’ earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.18). Pacific Biosciences reported earnings of ($0.26) per share in the same quarter last year, which would suggest a positive year over year growth rate of 26.9%. The business is scheduled to announce its next earnings results on Wednesday, April 25th.

On average, analysts expect that Pacific Biosciences will report full-year earnings of ($0.63) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.58). For the next fiscal year, analysts expect that the company will report earnings of ($0.48) per share, with EPS estimates ranging from ($0.65) to ($0.36). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Pacific Biosciences.

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Pacific Biosciences (NASDAQ:PACB) last issued its earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. Pacific Biosciences had a negative net margin of 98.63% and a negative return on equity of 98.98%. The company had revenue of $24.94 million during the quarter, compared to analysts’ expectations of $21.89 million. During the same period last year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Pacific Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BidaskClub raised shares of Pacific Biosciences from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Pacific Biosciences currently has an average rating of “Hold” and a consensus target price of $6.27.

Pacific Biosciences stock traded down $0.13 during mid-day trading on Monday, reaching $2.05. The company had a trading volume of 1,826,553 shares, compared to its average volume of 1,053,430. Pacific Biosciences has a 1 year low of $2.03 and a 1 year high of $5.70. The company has a current ratio of 3.55, a quick ratio of 2.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $267.92, a PE ratio of -2.36 and a beta of 1.54.

Institutional investors have recently modified their holdings of the business. Moloney Securities Asset Management LLC purchased a new position in Pacific Biosciences in the fourth quarter valued at about $154,000. Aperio Group LLC grew its position in shares of Pacific Biosciences by 105.5% in the third quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 21,766 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Pacific Biosciences by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 5,145 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Pacific Biosciences in the fourth quarter valued at approximately $301,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Pacific Biosciences in the fourth quarter valued at approximately $370,000. 59.46% of the stock is owned by institutional investors.

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Pacific Biosciences 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 (NASDAQ:PACB)

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