Pacific Biosciences of California Inc. (NASDAQ:PACB) – Equities research analysts at William Blair upped their FY2017 earnings per share estimates for Pacific Biosciences of California in a report issued on Thursday. William Blair analyst A. Murphy now anticipates that the brokerage will post earnings of ($0.66) per share for the year, up from their prior estimate of ($0.69). William Blair also issued estimates for Pacific Biosciences of California’s FY2018 earnings at ($0.49) EPS.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. Pacific Biosciences of California had a negative net margin of 41.57% and a negative return on equity of 77.61%. The firm had revenue of $20.70 million for the quarter, compared to analyst estimates of $20.19 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year.

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

A number of other equities analysts also recently issued reports on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $18.00 price objective on shares of Pacific Biosciences of California in a report on Wednesday, June 29th. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, CL King initiated coverage on shares of Pacific Biosciences of California in a report on Monday, June 27th. They issued a “buy” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Pacific Biosciences of California presently has a consensus rating of “Buy” and a consensus price target of $12.46.

Pacific Biosciences of California (NASDAQ:PACB) opened at 8.53 on Monday. Pacific Biosciences of California has a 12-month low of $6.76 and a 12-month high of $14.00. The company’s 50 day moving average is $8.69 and its 200 day moving average is $8.74. The company’s market cap is $783.69 million.

Several institutional investors have recently added to or reduced their stakes in PACB. Teachers Advisors Inc. increased its position in Pacific Biosciences of California by 560.9% in the first quarter. Teachers Advisors Inc. now owns 581,959 shares of the company’s stock valued at $4,947,000 after buying an additional 493,907 shares during the period. BlackRock Inc. increased its position in Pacific Biosciences of California by 11.5% in the first quarter. BlackRock Inc. now owns 162,042 shares of the company’s stock valued at $1,378,000 after buying an additional 16,693 shares during the period. BlackRock Group LTD increased its position in Pacific Biosciences of California by 5.7% in the first quarter. BlackRock Group LTD now owns 321,298 shares of the company’s stock valued at $2,731,000 after buying an additional 17,397 shares during the period. BlackRock Fund Advisors increased its position in Pacific Biosciences of California by 12.6% in the first quarter. BlackRock Fund Advisors now owns 2,847,543 shares of the company’s stock valued at $24,204,000 after buying an additional 318,167 shares during the period. Finally, AXA bought a new position in Pacific Biosciences of California during the first quarter valued at approximately $331,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

In other Pacific Biosciences of California news, SVP James Michael Phillips sold 20,000 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $8.45, for a total transaction of $169,000.00. Following the transaction, the senior vice president now owns 198,949 shares of the company’s stock, valued at $1,681,119.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.80% of the company’s stock.

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’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

5 Day Chart for NASDAQ:PACB

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