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

Pacific Biosciences of California (NASDAQ:PACB) will post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Pacific Biosciences of California to post earnings of ($0.26) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. The company had revenue of $58.36 million for the quarter, compared to analyst estimates of $57.96 million. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. Pacific Biosciences of California’s revenue for the quarter was up 113.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. 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 Price Performance

NASDAQ:PACB opened at $1.87 on Wednesday. The company has a quick ratio of 7.21, a current ratio of 7.81 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $509.28 million, a price-to-earnings ratio of -1.55 and a beta of 1.99. Pacific Biosciences of California has a 12-month low of $1.25 and a 12-month high of $14.55. The stock’s 50 day moving average price is $3.24 and its two-hundred day moving average price is $6.08.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PACB. Barclays dropped their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. The Goldman Sachs Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $2.50 in a report on Thursday, April 18th. TD Cowen decreased their price objective on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Wednesday, April 17th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.77.

Insider Activity

In related news, insider Oene Mark Van sold 33,560 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the completion of the transaction, the insider now owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Oene Mark Van sold 33,560 shares of Pacific Biosciences of California stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the sale, the insider now directly owns 876,611 shares of the company’s stock, valued at $5,224,601.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David W. Meline acquired 40,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $4.40 per share, with a total value of $176,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $176,000. The disclosure for this purchase can be found here. In the last three months, insiders have sold 37,359 shares of company stock worth $218,843. Corporate insiders own 1.40% of the company’s stock.

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.