$12.88 Million in Sales Expected for Pacific Biosciences of California (NASDAQ:PACB) This Quarter

Brokerages expect Pacific Biosciences of California (NASDAQ:PACB) to announce $12.88 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pacific Biosciences of California’s earnings. The lowest sales estimate is $10.60 million and the highest is $17.34 million. Pacific Biosciences of California posted sales of $24.62 million in the same quarter last year, which would indicate a negative year over year growth rate of 47.7%. The business is expected to report its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Pacific Biosciences of California will report full year sales of $82.85 million for the current fiscal year, with estimates ranging from $74.20 million to $99.93 million. For the next fiscal year, analysts forecast that the business will post sales of $148.75 million, with estimates ranging from $131.60 million to $173.32 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $15.60 million during the quarter, compared to the consensus estimate of $20.10 million.

A number of research firms recently issued reports on PACB. Piper Sandler dropped their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Cantor Fitzgerald reiterated a “buy” rating and set a $5.00 target price on shares of Pacific Biosciences of California in a research report on Wednesday, June 10th. Finally, BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Pacific Biosciences of California has a consensus rating of “Hold” and an average target price of $6.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACB. Rhumbline Advisers raised its holdings in Pacific Biosciences of California by 1.6% during the fourth quarter. Rhumbline Advisers now owns 201,480 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 3,203 shares during the last quarter. Swiss National Bank raised its holdings in Pacific Biosciences of California by 2.1% during the fourth quarter. Swiss National Bank now owns 248,846 shares of the biotechnology company’s stock worth $1,279,000 after buying an additional 5,200 shares during the last quarter. State Street Corp raised its holdings in Pacific Biosciences of California by 8.7% during the fourth quarter. State Street Corp now owns 3,241,960 shares of the biotechnology company’s stock worth $16,664,000 after buying an additional 259,950 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pacific Biosciences of California by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 865,098 shares of the biotechnology company’s stock worth $4,447,000 after buying an additional 17,401 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Pacific Biosciences of California by 927.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,057 shares of the biotechnology company’s stock worth $36,000 after buying an additional 6,370 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

NASDAQ:PACB opened at $3.45 on Wednesday. The firm’s fifty day moving average is $3.61 and its 200-day moving average is $3.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.28. Pacific Biosciences of California has a 52 week low of $2.20 and a 52 week high of $6.21. The firm has a market cap of $532.37 million, a P/E ratio of -10.15 and a beta of 1.68.

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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