Pacific Biosciences of California (NASDAQ:PACB – Get Rating) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02, Fidelity Earnings reports. Pacific Biosciences of California had a negative net margin of 130.14% and a negative return on equity of 36.11%. During the same period last year, the company posted ($0.21) EPS. Pacific Biosciences of California updated its FY 2022 guidance to EPS.

Pacific Biosciences of California Stock Up 11.5 %

Shares of NASDAQ:PACB traded up $0.60 on Thursday, hitting $5.81. 15,065,471 shares of the company's stock were exchanged, compared to its average volume of 6,306,486. The firm's 50-day moving average is $4.80 and its 200 day moving average is $7.59. The company has a market capitalization of $1.30 billion, a PE ratio of -7.20 and a beta of 1.43. Pacific Biosciences of California has a 1-year low of $3.85 and a 1-year high of $35.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 16.38 and a current ratio of 16.87.

Wall Street Analysts Forecast Growth

PACB has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Pacific Biosciences of California from $13.00 to $6.00 and set a "na" rating on the stock in a report on Sunday, May 15th. Cowen set a $9.00 target price on shares of Pacific Biosciences of California in a report on Tuesday, July 19th. Finally, Cantor Fitzgerald dropped their price target on shares of Pacific Biosciences of California from $23.00 to $19.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Pacific Biosciences of California has an average rating of "Moderate Buy" and an average price target of $28.57.

Institutional Inflows and Outflows

Pacific Biosciences of California Company Profile

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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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