Pacific Biosciences of California (PACB) closed the latest trading day at $1.37, indicating a +0.74% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.71%. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate ...

Consortium Delivers Publicly Available Datasets that Enrich Detection of Rare and Novel Genetic Variants for Advances in Human Disease Research "Joining forces with PacBio has enabled us to leverage their HiFi sequencing capabilities, enhancing the depth and accuracy of the genomic data we can offer to the research community," said Michael Schatz, Bloomberg Distinguished Professor at Johns Hopkins University. "This effort complements existing databases such as gnomAD, as long reads enable much greater sensi ...

Core Viewpoint - Pacific Biosciences of California, Inc. (PacBio) is experiencing growth driven by its focus on research and development, with optimism stemming from a solid first-quarter 2024 performance and ongoing product development activities, despite facing competition and macroeconomic challenges [1][3][10]. Company Performance - Year-to-date, PacBio's stock has declined by 80.9%, contrasting with a 6.9% growth in the industry and an 11.6% gain in the S&P 500 Composite [2]. - The company has a market capitalization of $509 million and projects an 18% growth for 2024, with earnings surpassing the Zacks Consensus Estimate in three of the last four quarters, averaging a surprise of 11.6% [3][10]. Research and Development Focus - PacBio is committed to enhancing its R&D efforts, focusing on developing new and existing platforms while increasing throughput and reducing costs for customers [4]. - The company is developing a high-throughput short-read platform expected to serve high-throughput labs, with an addressable market estimated at over $1 billion annually [6]. - Ongoing development of the next-generation SMRT cell aims to support a new high-throughput long-read platform, significantly increasing throughput compared to the Revio system [7]. Product Development Activities - PacBio is expanding its presence in the RNA-sequencing market, recently launching the PureTarget repeat expansion panel to examine genes linked to severe neurological conditions [8]. - The company introduced two high-throughput library preparation kits optimized for its Revio sequencing system and a versatile Nanobind DNA extraction kit, broadening the range of sample types for long-read sequencing [9]. Financial Results - In the first quarter of 2024, PacBio's earnings aligned with the Zacks Consensus Estimate, while revenues exceeded expectations, with notable growth in product and consumables revenues [10]. - Strong geographical performance in the Asia-Pacific region and EMEA contributed positively, alongside an expansion of the adjusted gross margin [10]. Market Challenges - Macroeconomic factors, including rising inflation and global supply-chain constraints, have negatively impacted PacBio's customers and extended sales cycles, potentially affecting revenues and operations throughout 2024 [11]. - The company faces stiff competition in the nucleic acid sequencing market, with competitors having more resources to adapt to new opportunities and technologies [12]. Estimate Trends - PacBio has seen a positive revision trend for 2024 estimates, with the Zacks Consensus Estimate for adjusted loss per share narrowing from $1.01 to $0.91 over the past 60 days [13]. - The estimated fiscal 2024 revenues are projected at $176.3 million, reflecting a 12.1% decrease from the previous year [13].

Pacific Biosciences of California (PACB) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Earnings Estimate Revisions Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. We ...

Core Insights - The GREGoR Consortium has selected Ambry Genetics and PacBio to support the Pediatric Mendelian Genomics Research Center program aimed at understanding rare diseases [1][2] - The initiative will utilize long-read sequencing technology to analyze up to 7,000 human whole genomes over three years, focusing on rare disease etiology [2][3] Company Overview - Ambry Genetics is a leader in clinical genomic testing, translating scientific research into actionable test results and has a strong track record in genetic disease understanding [5] - PacBio specializes in advanced sequencing solutions, focusing on accuracy and quality through its HiFi long-read and SBB short-read sequencing technologies [6] Research Objectives - The collaboration aims to enhance understanding of rare diseases by incorporating innovative methods such as phenotyping, variant identification, and functional analysis of genetic alterations [3][4] - The project seeks to discover new rare variants and understand the role of epigenomics in disease manifestation, potentially revolutionizing diagnostic capabilities [3][4]

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, delivered an adjusted loss per share of 26 cents in first-quarter 2024, narrower than the year-ago loss of 31 cents per share. The adjusted loss per share aligned with the Zacks Consensus Estimate.The company’s GAAP loss per share was 29 cents in the quarter, narrower than the year-ago period’s loss of 36 cents.Revenues in DetailPacBio registered revenues of $38.8 million in the first quarter, down 0.2% year over year. The figure be ...

Pacific Biosciences of California, Inc. (NASDAQ:PACB) Q1 2024 Earnings Conference Call May 9, 2024 5:00 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 Kyle Mikson - Canaccord Genuity Corp. Daniel Brennan - TD Cowen Doug Schenkel - Wolfe Research Sung Ji Nam - Scotiabank Tejas Savant - Morgan Stanley Operator Hello and welcome to the PacBio First Quarter 2 ...

Statement regarding use of non‐GAAP financial measures PacBio reports non‐GAAP results for basic and diluted net income and loss per share, net income, net loss, gross margins, gross profit and operating expenses in addition to, and not as a substitute for, or because it believes that such information is superior to, financial measures calculated in accordance with GAAP. PacBio believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency ...

For the quarter ended March 2024, Pacific Biosciences of California (PACB) reported revenue of $38.81 million, down 0.2% over the same period last year. EPS came in at -$0.26, compared to -$0.31 in the year-ago quarter.The reported revenue represents a surprise of +0.08% over the Zacks Consensus Estimate of $38.78 million. With the consensus EPS estimate being -$0.26, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Pacific Biosciences of California (PACB) came out with a quarterly loss of $0.26 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.31 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this maker of genetic analysis technology would post a loss of $0.31 per share when it actually produced a loss of $0.27, delivering a surprise of 12.90%.Over the last four quarters, the company has surpassed consensus EPS estimates three ...