Pacific Biosciences of California (PACB) to Release Quarterly Earnings on Thursday

Pacific Biosciences of California (NASDAQ:PACB) is set to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The firm had revenue of $36.01 million during the quarter, compared to analysts’ expectations of $40.52 million. On average, analysts expect Pacific Biosciences of California to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Pacific Biosciences of California Stock Up 4.9 %

Shares of PACB opened at $2.16 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $10.65. The stock has a market capitalization of $588.66 million, a price-to-earnings ratio of -1.44 and a beta of 2.05. The stock has a 50 day moving average price of $1.72 and a 200 day moving average price of $1.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price target on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Morgan Stanley lowered their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Canaccord Genuity Group lowered their price target on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Scotiabank lowered their price target on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Insiders Place Their Bets

In other news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.