Pacific Biosciences of California (PACB) Increases Yet Falls Behind Market: What Investors Need to Know

Pacific Biosciences of California (PACB) ended the recent trading session at $1.22, demonstrating a +1.67% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 2.13%. Meanwhile, the Dow experienced a rise of 1.65%, and the technology-dominated Nasdaq saw an increase of 2.61%.Shares of the maker of genetic analysis technology witnessed a loss of 18.92% over the previous month, trailing the performance of the Medical sector with its loss of 2.78% and the S&P 500's loss of 9.57%.The upcoming earnings release of Pacific Biosciences of California will be of great interest to investors. The company's upcoming EPS is projected at -$0.19, signifying a 26.92% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $34.1 million, indicating a 12.13% decline compared to the corresponding quarter of the prior year.For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.70 per share and a revenue of $159.96 million, signifying shifts of +15.66% and +3.86%, respectively, from the last year.Investors should also note any recent changes to analyst estimates for Pacific Biosciences of California. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.2% lower within the past month. Right now, Pacific Biosciences of California possesses a Zacks Rank of #3 (Hold).The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks