Equities analysts expect that Pacific Biosciences of California, Inc. (NASDAQ:PACB) will post sales of $28.49 million for the current quarter, Zacks reports. Two analysts have provided estimates for Pacific Biosciences of California’s earnings, with estimates ranging from $27.59 million to $29.39 million. Pacific Biosciences of California posted sales of $25.12 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.4%. The business is expected to issue its next earnings results on Wednesday, November 1st.

On average, analysts expect that Pacific Biosciences of California will report full year sales of $28.49 million for the current financial year, with estimates ranging from $103.10 million to $109.96 million. For the next financial year, analysts forecast that the company will report sales of $132.52 million per share, with estimates ranging from $132.14 million to $132.89 million. Zacks Investment Research’s sales 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 posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The company had revenue of $20.07 million for the quarter, compared to analyst estimates of $23.34 million. Pacific Biosciences of California had a negative return on equity of 93.31% and a negative net margin of 89.67%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) earnings per share.

A number of research firms have weighed in on PACB. Zacks Investment Research downgraded Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. CL King downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price target for the company. in a research report on Thursday, September 28th. Finally, ValuEngine downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.93.

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Shares of Pacific Biosciences of California (NASDAQ:PACB) traded down 5.61% during trading on Monday, reaching $4.88. 1,568,925 shares of the company traded hands. Pacific Biosciences of California has a 12 month low of $3.08 and a 12 month high of $9.28. The stock’s market cap is $564.08 million. The stock’s 50 day moving average price is $5.01 and its 200-day moving average price is $4.25.

Hedge funds have recently bought and sold shares of the business. Karp Capital Management Corp acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth $116,000. HighTower Advisors LLC grew its holdings in shares of Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 7,225 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Pacific Biosciences of California by 601.5% during the 1st quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 35,463 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 6,218 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth $155,000. Hedge funds and other institutional investors own 68.32% 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 is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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

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