Pacific Biosciences of California Forecasted to Post Q2 2020 Earnings of ($0.12) Per Share (NASDAQ:PACB)

Pacific Biosciences of California (NASDAQ:PACB) – Piper Jaffray Companies lifted their Q2 2020 earnings per share (EPS) estimates for shares of Pacific Biosciences of California in a report released on Wednesday, July 10th. Piper Jaffray Companies analyst W. Quirk now anticipates that the biotechnology company will post earnings of ($0.12) per share for the quarter, up from their prior forecast of ($0.13). Piper Jaffray Companies also issued estimates for Pacific Biosciences of California’s FY2020 earnings at ($0.48) EPS.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Friday, May 3rd. The biotechnology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $16.43 million for the quarter, compared to the consensus estimate of $21.83 million. Pacific Biosciences of California had a negative net margin of 143.62% and a negative return on equity of 102.01%.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Cantor Fitzgerald set a $8.00 price objective on Pacific Biosciences of California and gave the stock a “hold” rating in a report on Thursday, June 20th. ValuEngine upgraded WEX from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Stephens set a $40.00 price objective on Cal-Maine Foods and gave the stock a “hold” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus price target of $6.11.

Shares of Pacific Biosciences of California stock opened at $5.94 on Friday. The company’s 50 day simple moving average is $6.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.50. The company has a market capitalization of $905.36 million, a P/E ratio of -7.82 and a beta of 2.02. Pacific Biosciences of California has a 52 week low of $3.33 and a 52 week high of $7.84.

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new position in shares of Pacific Biosciences of California during the first quarter valued at $53,000. Prudential Financial Inc. increased its holdings in shares of Pacific Biosciences of California by 21.8% during the fourth quarter. Prudential Financial Inc. now owns 12,402 shares of the biotechnology company’s stock valued at $92,000 after acquiring an additional 2,220 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Pacific Biosciences of California during the first quarter valued at $104,000. Boston Private Wealth LLC bought a new position in shares of Pacific Biosciences of California during the second quarter valued at $115,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Pacific Biosciences of California by 79.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 16,324 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 7,237 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

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

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