Pacific Biosciences of California (NASDAQ:PACB) Releases Earnings Results, Misses Estimates By $0.04 EPS

Pacific Biosciences of California (NASDAQ:PACB) issued its earnings results on Thursday. The biotechnology company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04), Fidelity Earnings reports. The firm had revenue of $21.92 million during the quarter, compared to analyst estimates of $28.02 million. Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%.

NASDAQ:PACB traded down $0.18 during trading hours on Friday, reaching $4.69. The company had a trading volume of 2,543,200 shares, compared to its average volume of 1,647,294. The stock has a 50-day moving average of $5.11 and a two-hundred day moving average of $5.96. Pacific Biosciences of California has a one year low of $4.37 and a one year high of $7.84. The firm has a market capitalization of $743.41 million, a PE ratio of -6.17 and a beta of 1.68. The company has a quick ratio of 1.65, a current ratio of 2.00 and a debt-to-equity ratio of 0.58.

A number of research analysts recently commented on PACB shares. Piper Jaffray Companies upgraded Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research note on Tuesday, October 15th. BidaskClub lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 29th. Finally, ValuEngine upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Pacific Biosciences of California currently has a consensus rating of “Hold” and an average price target of $8.00.

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 for Pacific Biosciences of California (NASDAQ:PACB)

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