Pacific Biosciences of California (PACB) Scheduled to Post Quarterly Earnings on Wednesday

Pacific Biosciences of California (NASDAQ:PACB) will be announcing its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.24) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The company had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. 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 Down 7.5 %

PACB stock opened at $1.55 on Tuesday. The firm has a 50 day moving average of $1.70 and a 200 day moving average of $3.15. The stock has a market capitalization of $420.79 million, a PE ratio of -1.36 and a beta of 2.05. The company has a quick ratio of 8.36, a current ratio of 9.28 and a debt-to-equity ratio of 1.38. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $12.53.

Analyst Ratings Changes

Several analysts have commented on PACB shares. JPMorgan Chase & Co. cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Jefferies Financial Group started coverage on shares of Pacific Biosciences of California in a report on Monday, June 3rd. They set a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $2.50 in a report on Thursday, April 18th. Sanford C. Bernstein cut their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating for the company in a report on Thursday, April 18th. Finally, TD Cowen cut their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.38.

Pacific Biosciences of California Company Profile

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.