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

Pacific Biosciences of California (NASDAQ:PACB) is scheduled to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates 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 2.9 %

PACB stock opened at $2.51 on Tuesday. The stock’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $1.72. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The stock has a market cap of $684.05 million, a P/E ratio of -1.67 and a beta of 2.01.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of the company’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 owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jeff Eidel sold 26,760 shares of the 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 transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Morgan Stanley cut their price objective on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Canaccord Genuity Group dropped their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Scotiabank decreased their price target on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. One 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’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and a consensus target price of $4.50.

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.