Pacific Biosciences of California (PACB) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $-0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.24. The company posted revenue of $19.10 million in the period, compared to analysts expectations of $17.70 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.
Many Wall Street Analysts have commented on Pacific Biosciences of California. First Analysis Sec Initiated Pacific Biosciences of California on Apr 15, 2016 to “Overweight”, Price Target of the shares are set at $11.Pacific Biosciences of California was Downgraded by Piper Jaffray to ” Neutral” on Feb 4, 2016.
Pacific Biosciences of California opened for trading at $8.68 and hit $9.13 on the upside on Monday, eventually ending the session at $9.1, with a gain of 4.24% or 0.37 points. The heightened volatility saw the trading volume jump to 15,61,102 shares. Company has a market cap of $780 M.
In a different news, on Aug 11, 2015, James Michael Phillips (SVP, Research & Development) sold 16,689 shares at $4.61 per share price. According to the SEC, on Mar 2, 2015, Kevin P Corcoran (SVP, Market Development) purchased 2,816 shares at $4.91 per share price. On Mar 2, 2015, Brian B Dow (VP and PAO) purchased 2,503 shares at $4.91 per share price, according to the Form-4 filing with the securities and exchange commission.
Pacific Biosciences of California Inc. designs develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Company’s Single Molecule Real-Time (SMRT) technology its products enable de novo genome assembly to finish genomes in order to more fully identify annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes characterize alternatively spliced isoforms and find genes; targeted sequencing to more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage. SMRT enables single molecule real-time detection of biological processes. Based on its SMRT technology the Company introduced the PacBio RS II System to address many of the limitations.