Cantor Fitzgerald Issues Negative Forecast for PACB Earnings

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) - Research analysts at Cantor Fitzgerald cut their FY2025 earnings per share (EPS) estimates for shares of Pacific Biosciences of California in a research note issued on Tuesday, February 18th. Cantor Fitzgerald analyst R. Osborn now forecasts that the biotechnology company will earn ($0.68) per share for the year, down from their prior forecast of ($0.62). The consensus estimate for Pacific Biosciences of California's current full-year earnings is ($0.72) per share.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). The company had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same period in the previous year, the company posted ($0.27) EPS.

Other equities analysts have also recently issued research reports about the stock. Stephens reaffirmed an "overweight" rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a report on Friday, February 14th. Piper Sandler reaffirmed a "neutral" rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday. UBS Group downgraded shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price objective for the company. in a report on Monday, November 11th. Finally, Scotiabank lowered their price objective on shares of 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. One investment 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 data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of "Hold" and a consensus target price of $2.79.

Pacific Biosciences of California Price Performance

Shares of PACB traded down $0.10 during midday trading on Thursday, hitting $1.54. 13,051,555 shares of the company traded hands, compared to its average volume of 13,035,497. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.09. The firm has a market cap of $421.75 million, a P/E ratio of -0.94 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The stock has a 50-day moving average of $1.76 and a 200-day moving average of $1.79.

Institutional Trading of Pacific Biosciences of California

A number of institutional investors have recently made changes to their positions in PACB. FMR LLC boosted its holdings in Pacific Biosciences of California by 641.3% in the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after purchasing an additional 353,092 shares during the last quarter. State Street Corp boosted its stake in shares of Pacific Biosciences of California by 5.7% in the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company's stock worth $10,669,000 after buying an additional 340,766 shares during the last quarter. Soros Fund Management LLC boosted its stake in shares of Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company's stock worth $3,567,000 after buying an additional 400,000 shares during the last quarter. Barclays PLC grew its holdings in shares of Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company's stock worth $1,011,000 after acquiring an additional 350,196 shares during the period. Finally, Senvest Management LLC increased its position in Pacific Biosciences of California by 36.1% during the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company's stock valued at $1,860,000 after acquiring an additional 290,000 shares during the last quarter.

Insider Activity

In related news, insider Michele Farmer sold 24,349 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the sale, the insider now directly owns 187,592 shares of the company's stock, valued at $352,672.96. This trade represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

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.