Pacific Biosciences of California (PACB) closed at $1.90 in the latest trading session, marking a -4.04% move from the prior day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 0.16%.
Shares of the maker of genetic analysis technology have appreciated by 53.49% over the course of the past month, outperforming the Medical sector's gain of 3.55%, and the S&P 500's gain of 1.16%.
The investment community will be closely monitoring the performance of Pacific Biosciences of California in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.16, showcasing a 5.88% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $39.84 million, reflecting a 0.33% fall from the equivalent quarter last year.
PACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.56 per share and revenue of $158.66 million. These results would represent year-over-year changes of +32.53% and +3.02%, respectively.
Investors should also note any recent changes to analyst estimates for Pacific Biosciences of California. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.18% increase. Pacific Biosciences of California is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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