Today, FY2017 Earnings Forecast for Pacific Biosciences of California Inc. Issued By William Blair (PACB)

Today, FY2017 Earnings Forecast for Pacific Biosciences of California Inc. Issued By William Blair (PACB)

Pacific Biosciences of California Inc. (NASDAQ:PACB) – Research analysts at William Blair upped their FY2017 earnings per share (EPS) estimates for Pacific Biosciences of California in a research note issued to investors on Thursday. William Blair analyst A. Murphy now expects that the brokerage will earn ($0.66) per share for the year, up from their prior forecast of ($0.69). William Blair also issued estimates for Pacific Biosciences of California’s FY2018 earnings at ($0.49) EPS.

Several other brokerages also recently commented on PACB. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. CL King began coverage on shares of Pacific Biosciences of California in a research report on Monday, June 27th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price objective on shares of Pacific Biosciences of California in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Pacific Biosciences of California has a consensus rating of “Buy” and a consensus target price of $12.46.

Shares of Pacific Biosciences of California (NASDAQ:PACB) traded up 1.76% on Monday, reaching $8.65. 455,784 shares of the company were exchanged. The company’s 50-day moving average price is $8.70 and its 200 day moving average price is $8.75. The company’s market cap is $794.72 million. Pacific Biosciences of California has a 12 month low of $6.76 and a 12 month high of $14.00.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The firm earned $20.70 million during the quarter, compared to analysts’ expectations of $20.19 million. Pacific Biosciences of California had a negative net margin of 41.57% and a negative return on equity of 77.61%. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share.

In other Pacific Biosciences of California news, SVP James Michael Phillips sold 20,000 shares of Pacific Biosciences of California stock in a transaction on Friday, July 29th. The shares were sold at an average price of $8.45, for a total transaction of $169,000.00. Following the transaction, the senior vice president now directly owns 198,949 shares of the company’s stock, valued at approximately $1,681,119.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Pacific Biosciences of California by 18.3% in the second quarter. Principal Financial Group Inc. now owns 14,422 shares of the company’s stock worth $101,000 after buying an additional 2,227 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Pacific Biosciences of California during the second quarter worth about $104,000. Societe Generale purchased a new stake in shares of Pacific Biosciences of California during the second quarter worth about $117,000. First Allied Advisory Services Inc. boosted its stake in shares of Pacific Biosciences of California by 4.3% in the second quarter. First Allied Advisory Services Inc. now owns 16,669 shares of the company’s stock worth $117,000 after buying an additional 680 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Pacific Biosciences of California by 36.8% in the third quarter. Creative Planning now owns 13,133 shares of the company’s stock worth $118,000 after buying an additional 3,533 shares in the last quarter. Institutional investors own 66.69% of the company’s stock.

Pacific Biosciences of California Company Profile

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