Pacific Biosciences of California (NASDAQ:PACB) posted its quarterly earnings results on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.01, Analyst Ratings.Net reports. The company had revenue of $7.40 million for the quarter, compared to the consensus estimate of $7.08 million. During the same quarter in the previous year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was up 164.3% on a year-over-year basis.
On the ratings front, analysts at Maxim Group raised their price target on shares of Pacific Biosciences of California from $4.00 to $8.00 in a research note to investors on Thursday, September 26th. They now have a “buy” rating on the stock.
Shares of Pacific Biosciences of California (NASDAQ:PACB) traded down 2.05% during mid-day trading on Tuesday, hitting $5.25. 1,174,839 shares of the company’s stock traded hands. Pacific Biosciences of California has a one year low of $1.06 and a one year high of $4.49. The stock’s 50-day moving average is $3.61 and its 200-day moving average is $2.77. The company’s market cap is $342.6 million.
Pacific Biosciences, Inc develops Deoxyribonucleic Acid (NASDAQ:PACB) sequencing platform.
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