Wall Street analysts forecast that Pacific Biosciences of California (NASDAQ:PACB) will report earnings per share (EPS) of ($0.16) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Pacific Biosciences of California’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.14). Pacific Biosciences of California reported earnings per share of ($0.21) in the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The business is expected to issue its next earnings results after the market closes on Thursday, February 6th.

On average, analysts expect that Pacific Biosciences of California will report full year earnings of ($0.71) per share for the current fiscal year, with EPS estimates ranging from ($0.72) to ($0.70). For the next financial year, analysts anticipate that the business will post earnings of ($0.54) per share, with EPS estimates ranging from ($0.64) to ($0.43). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 136.85% and a negative net margin of 139.22%. The firm had revenue of $21.92 million for the quarter, compared to analysts’ expectations of $28.02 million.

Several equities research analysts have recently weighed in on PACB shares. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Friday, January 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $7.00 price target on shares of Pacific Biosciences of California in a report on Wednesday, December 18th. ValuEngine raised shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Finally, Zacks Investment Research lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $6.00 price target for the company. in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $7.25.

Pacific Biosciences of California stock traded down $0.11 during midday trading on Tuesday, hitting $4.78. 1,312,812 shares of the stock were exchanged, compared to its average volume of 3,070,317. The company has a 50 day moving average price of $5.12 and a two-hundred day moving average price of $5.25. The firm has a market cap of $742.62 million, a P/E ratio of -6.29 and a beta of 1.70. Pacific Biosciences of California has a 1 year low of $4.37 and a 1 year high of $7.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.52 and a quick ratio of 1.22.

Several hedge funds and other institutional investors have recently bought and sold shares of PACB. Wells Fargo & Company MN boosted its holdings in shares of Pacific Biosciences of California by 176.7% in the 2nd quarter. Wells Fargo & Company MN now owns 250,659 shares of the biotechnology company’s stock valued at $1,516,000 after buying an additional 160,056 shares during the period. Bank of Montreal Can boosted its holdings in shares of Pacific Biosciences of California by 291.6% in the 2nd quarter. Bank of Montreal Can now owns 15,883 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 11,827 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pacific Biosciences of California by 3.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 812,359 shares of the biotechnology company’s stock valued at $4,915,000 after buying an additional 27,447 shares during the period. LPL Financial LLC boosted its holdings in shares of Pacific Biosciences of California by 39.3% in the 2nd quarter. LPL Financial LLC now owns 28,350 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 8,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Pacific Biosciences of California by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 654,103 shares of the biotechnology company’s stock valued at $3,958,000 after buying an additional 12,014 shares during the period. 70.57% of the stock is owned by institutional investors and hedge funds.

About Pacific Biosciences of California

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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