Pacific Biosciences of California (PACB) Releases Earnings Results, Beats Expectations By $0.01 EPS

Pacific Biosciences of California (PACB) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-0.21 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 $-0.22. The company posted revenue of $20.70 million in the period, compared to analysts expectations of $20.15 million. The company’s revenue was down -16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on Pacific Biosciences of California. Pacific Biosciences of California was Initiated by CL King to “Buy” on Jun 27, 2016.

Pacific Biosciences of California closed down -0.19 points or -2.20% at $8.43 with 13,53,039 shares getting traded on Tusday. Post opening the session at $8.57, the shares hit an intraday low of $8.19 and an intraday high of $8.74 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Aug 1, 2016, James Michael Phillips (SVP, Research & Development) sold 20,000 shares at $8.45 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.

Pacific Biosciences of California

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