During the last session, Pacific Biosciences of California Inc (NASDAQ:PACB)’s traded shares were 8.22 million, with the beta value of the company hitting 1.96. The 52-week high for the PACB share is $10.65, that puts it down -519.19 from that peak though still a striking 32.56% gain since the share price plummeted to a 52-week low of $1.16. The company’s market capitalization is $471.05M, and the average intraday trading volume over the past 10 days was 15.37 million shares, and the average trade volume was 9.30 million shares over the past three months.
Pacific Biosciences of California Inc (PACB) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.19. PACB has a Sell rating from 1 analyst(s) out of 11 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.18.
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Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
The stock’s 5-day price performance is -13.13%, and it has moved by -4.44% in 30 days. Based on these gigs, the overall price performance for the year is -79.95%. The short interest in Pacific Biosciences of California Inc (NASDAQ:PACB) is 50.41 million shares and it means that shorts have 6.88 day(s) to cover.
The consensus price target of analysts on Wall Street is $3, which implies an increase of 42.67% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $4 respectively. As a result, PACB is trading at a discount of -132.56% off the target high and -16.28% off the low.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Statistics show that Pacific Biosciences of California Inc has outperformed its competitors in share price, compared to the industry in which it operates. Pacific Biosciences of California Inc (PACB) shares have gone down -7.03% during the last six months, with a year-to-date growth rate more than the industry average at 18.02% against 15.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 34.95% this quarter and then jump 39.60% in the quarter after that. In the rating firms’ projections, revenue will decrease -22.43% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 40.71M as predicted by 12 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to 43.08M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 58.36M and 38.81M respectively. In this case, analysts expect current quarter sales to shrink by -30.24% and then jump by 10.99% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.76%. While earnings are projected to return -12.86% in 2024, the next five years will return -1.00% per annum.
PACB Dividends
Pacific Biosciences of California Inc is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders
Pacific Biosciences of California Inc insiders own 1.85% of total outstanding shares while institutional holders control 83.08%, with the float percentage being 84.65%. ARK INVESTMENT MANAGEMENT LLC is the largest shareholder of the company, while 317.0 institutions own stock in it. As of 2024-06-30, the company held over 33.21 million shares (or 12.3202% of all shares), a total value of $45.5 million in shares.
The next largest institutional holding, with 26.0 million shares, is of VANGUARD GROUP INC’s that is approximately 9.6443% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $35.62 million.
