Piper Jaffray Companies Weighs in on Pacific Biosciences of California’s Q1 2020 Earnings (PACB)

Pacific Biosciences of California (NASDAQ:PACB) – Equities researchers at Piper Jaffray Companies issued their Q1 2020 earnings estimates for Pacific Biosciences of California in a report released on Monday, February 11th. Piper Jaffray Companies analyst W. Quirk expects that the biotechnology company will post earnings per share of ($0.09) for the quarter. Piper Jaffray Companies also issued estimates for Pacific Biosciences of California’s Q2 2020 earnings at ($0.09) EPS, Q3 2020 earnings at ($0.08) EPS and Q4 2020 earnings at ($0.08) EPS.

A number of other equities analysts also recently issued reports on PACB. ValuEngine downgraded Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 2nd. BidaskClub raised Pacific Biosciences of California from a “hold” rating to a “buy” rating in a report on Saturday, November 3rd. Cantor Fitzgerald set a $8.00 price objective on Pacific Biosciences of California and gave the stock a “buy” rating in a research note on Thursday, November 1st. Finally, Cowen cut Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a research note on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.64.

Pacific Biosciences of California stock opened at $7.08 on Wednesday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -8.14 and a beta of 2.30. Pacific Biosciences of California has a 12 month low of $2.02 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.65 and a quick ratio of 5.74.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Monday, February 11th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.08). Pacific Biosciences of California had a negative net margin of 110.10% and a negative return on equity of 91.12%. The firm had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $21.08 million.

In other Pacific Biosciences of California news, insider Kathy Ordonez sold 25,000 shares of the stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $7.54, for a total transaction of $188,500.00. Following the sale, the insider now directly owns 68,750 shares of the company’s stock, valued at approximately $518,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth about $26,000. Hudock Capital Group LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth about $29,000. Clean Yield Group purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth about $37,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pacific Biosciences of California by 37.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 2,628 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Pacific Biosciences of California by 21.8% during the 4th quarter. Prudential Financial Inc. now owns 12,402 shares of the biotechnology company’s stock worth $92,000 after acquiring an additional 2,220 shares in the last quarter. 70.99% of the stock is currently owned by institutional investors.

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 and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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