Pacific Biosciences of California, Inc. (PACB)
Pacific Biosciences' Cost Cuts Won't Offset Rising Competition
Pacific Biosciences of California stock surged 50% since August despite a 24% YoY revenue decline and deteriorating gross margins due to increased costs and pricing pressures. Q3 revenue of $40 million missed analyst estimates, with SG&A expenses surpassing total revenue and gross profit margins remaining low at 28%. Pacific Biosciences has made significant cuts in R&D, which may harm long-term growth given the rapid technological advancements in the genomic market.
PacBio price target lowered to $6 from $7 at Scotiabank
Scotiabank lowered the firm's price target on PacBio to $6 from $7 and keeps an Outperform rating on the shares. The firm lowered its FY24 and FY25 revenue estimates following the company's Q3 update, the analyst tells investors. The firm's longer-term outlook for the company, however, remains intact, believing the company is highly differentiated and the recently accelerated pace of product innovations place the company in a good position for outsized growth.
PACB Stock Falls Despite Q3 Earnings Beat, Revenues Decline Y/Y
PacBio Q3 2024 revenues decline year over year. However, Consumable, and Service and other revenues increase.
Pacific Biosciences of California, Inc. (PACB) Q3 2024 Earnings Call Transcript
Pacific Biosciences of California, Inc. (NASDAQ:PACB ) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Todd Friedman - Senior Director of Investor Relations Christian Henry - President and Chief Executive Officer Susan Kim - Chief Financial Officer Conference Call Participants Tejas Savant - Morgan Stanley Kyle Nixon - Canaccord Mason Carrico - Stephens Dan Brennan - TD Cowen Jack Meehan - Nephron Research Subbu Nambi - Guggenheim Securities Madeline Mollman - Wolfe Research Operator Good day and welcome to the PacBio Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.
Pacific Biosciences (PACB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for Pacific Biosciences (PACB) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Pacific Biosciences of California (PACB) Reports Q3 Loss, Misses Revenue Estimates
Pacific Biosciences of California (PACB) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.27 per share a year ago.
The Schall Law Firm Encourages Investors With Losses To Join An Inquiry Into Pacific Biosciences of California Inc For Fraud
LOS ANGELES, CA / ACCESSWIRE / November 4, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pacific Biosciences of California, Inc. ("PacBio" or "the Company") (NASDAQ:PACB) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Pacific Biosciences of California, Inc. Is Being Investigated For Securities Law Violations And Affected Shareholders Are Urged To Contact The Schall Law Firm
LOS ANGELES, CA / ACCESSWIRE / November 3, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pacific Biosciences of California, Inc. ("PacBio" or "the Company") (NASDAQ:PACB) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
The Schall Law Firm Encourages Investors To Join An Inquiry Into Pacific Biosciences of California Inc For Securities Fraud
LOS ANGELES, CA / ACCESSWIRE / November 2, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pacific Biosciences of California, Inc. ("PacBio" or "the Company") (NASDAQ:PACB) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Pacific Biosciences of California (PACB) Advances While Market Declines: Some Information for Investors
Pacific Biosciences of California (PACB) reachead $2.17 at the closing of the latest trading day, reflecting a +0.46% change compared to its last close.
Pacific Biosciences of California, Inc. Is Being Investigated For Securities Law Violations And Affected Shareholders Are Urged To Contact The Schall Law Firm
LOS ANGELES, CA / ACCESSWIRE / October 27, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pacific Biosciences of California, Inc. ("PacBio" or "the Company") (NASDAQ:PACB) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
The Schall Law Firm Encourages Investors To Join An Inquiry Into Pacific Biosciences of California Inc For Securities Fraud
LOS ANGELES, CA / ACCESSWIRE / October 26, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pacific Biosciences of California, Inc. ("PacBio" or "the Company") (NASDAQ:PACB) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
