Pacific Biosciences of California, Inc. (NASDAQ:PACB) is reporting third quarter earnings results on Monday 2nd November 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 0.13 per share.
For the full year, analysts predict revenues of $ 80.69 million, while looking forward to loss of $ 0.03 per share.
Previous Quarter Performance
Pacific Biosciences of California, Inc. revealed loss for the second quarter of $ 0.15 per share, from the revenue of $ 17.08 million. According to street consensus, PACB was expected to report 2Q20 loss of $ 0.18 per share from revenue of $ 13.72 million. The bottom line results beat street analysts by $ 0.03 or 16.67 percent, at the same time, top line results outshined analysts by $ 3.36 million or 24.49 percent.
Stock Performance
On Friday, shares of Pacific Biosciences of California, Inc. has traded high as $ 13.48 and has cracked $ 12.53 on the downward trend, reaching $ 13.11 with volume of 3.51 million shares.
According to the previous trading day, closing price of $ 13.11, representing a 507.27 % increase from the 52 week low of $ 2.20 and a 11.64 % decrease over the 52 week high of $ 15.12.
The company has a market capital of $ 2.52 billion and is part of the Healthcare sector and Diagnostics & Research industry.
Recent Analyst recommendations
- On 2nd October 2020, upgraded by JPMorgan Chase & Co. to Overweight from Neutral rating.
- On 1st October 2020, maintained by Piper Sandler at Overweight rating, with $ 12.00 target price.
- On 9th September 2020, initiated by Morgan Stanley at Equal-Weight rating, with $ 7.00 target price.
Conference Call
Pacific Biosciences of California, Inc. will be hosting a conference call at 4:30 PM eastern time on 2nd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.pacb.com
Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The companys single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes.
