Pacific Biosciences of California (NASDAQ:PACB) Issues Quarterly Earnings Results

Pacific Biosciences of California (NASDAQ:PACB) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20), Zacks reports. The business had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. During the same quarter last year, the company earned ($0.27) earnings per share.

Pacific Biosciences of California Trading Up 25.0 %

NASDAQ PACB traded up $0.37 on Friday, reaching $1.85. 45,822,557 shares of the company were exchanged, compared to its average volume of 10,437,161. The business’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.79. The stock has a market capitalization of $506.64 million, a P/E ratio of -1.27 and a beta of 1.92. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $6.83.

Insider Activity

In other news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PACB shares. Scotiabank decreased their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a report on Thursday, January 23rd. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a report on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $2.85.

About Pacific Biosciences of California

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.