The average investment bank analyst covering Pacific Biosciences of California (or PacBio) was expecting $36.6 million in revenue. PacBio stock is falling today because the company reported unaudited fourth-quarter revenue that reached just $36 million. Image source: Getty Images. Compared to the prior-year period, revenue soared 33%.
What is happening with Pacific Biosciences stock price?
Apr 06, 2022 · Pacific Biosciences Stock Falls While Revenue Rises. One of Warren Buffett’s many notable quotes is that “if you’ve been playing poker for half an hour and you still don’t know who the patsy is, you’re the patsy.”. In the investing world, these people are called bag holders. They’ll buy a stock when it’s close to peaking and then hold it stubbornly until it becomes …
Why is Pacific Biosciences a good investment?
Jan 11, 2022 · PacBio stock is falling today because the company reported unaudited fourth-quarter revenue that reached just $36 million. Image source: Getty Images. Compared to the prior-year period, revenue...
What to expect from PacBio (PACB) in the first quarter of 2022?
Feb 10, 2021 · Why is Pacific Biosciences stock falling? Probably because the bigger they are, the harder they fall. Here is why this stock could be falling in the future.
Is Ark bullish on Pacific Biosciences?
Mar 17, 2022 · PacBio has initiated its financial outlook for first quarter and full-year 2022. The company expects its revenues for 2022 to be in the range of $160-$170 million, representing 23-30% growth from ...
Is Pacific Biosciences a good buy?
Will Pacific Biosciences stock go up?
The 6 analysts offering 12-month price forecasts for Pacific Biosciences of California Inc have a median target of 16.50, with a high estimate of 27.00 and a low estimate of 11.00. The median estimate represents a +170.05% increase from the last price of 6.11.
Who bought Pacific Biosciences?
Who are Pacific Biosciences competitors?
Pacific Biosciences's competitors are Oxford Nanopore Technologies and more.
Will Bionano Genomics stock go up?
The 3 analysts offering 12-month price forecasts for Bionano Genomics Inc have a median target of 8.00, with a high estimate of 12.00 and a low estimate of 6.00. The median estimate represents a +483.94% increase from the last price of 1.37.
When did Pacbio go public?
In an initial public offering on October 27, 2010, Pacific Biosciences sold 12,500,000 shares at a price of $16 per share and raised approximately $200 million. The shares trade on NASDAQ under the symbol PACB.
Is Pacbio part of Illumina?
Is Pacbio owned by Illumina?
Preliminary fourth-quarter results reached a record high but didn't quite meet expectations
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Key Points
This morning, PacBio released preliminary, unaudited fourth-quarter revenue results that were just a bit below analyst expectations.
What happened
The stock of Pacific Biosciences of California ( NASDAQ:PACB), a company developing DNA sequencing machines, is losing ground after an investor update. Preliminary fourth-quarter sales figures missed expectations, driving the stock 11.8% lower as of 12:54 p.m. ET on Tuesday.
So what
Preliminary sales figures from the fourth quarter weren't bad, but they were slightly less than the market was expecting. The average investment bank analyst covering Pacific Biosciences of California (or PacBio) was expecting $36.6 million in revenue.
Now what
The narrow miss probably doesn't warrant such a strong move to the downside. That said, shares of PacBio were trading at some very lofty valuations. Despite the recent losses, the genetic sequencing stock is still trading at around 24.3 times trailing sales.
How much is Pacific Biosciences worth?
Credit: Pacific Biosciences. Today’s story starts in 2018 when Illumina announced their intent to acquire Pacific Biosciences for $1.2 billion. In January 2020, the deal was officially called off, which probably was the right move for Pacific Biosciences. After that monster run up, they’re now worth just over $8 billion.
Is 2020 a bad year for Pacific Biosciences?
It’s understandable that 2020 will be a bad year for everyone, and maybe even 2021. But at some point in time, we’ll hopefully get past the you know what, and companies will be firing on all twelve cylinders again. It’s at that point in time that Pacific Biosciences should be able to finally break that psychological glass ceiling of $100 million in yearly revenues and start their journey towards breaking the $800 million mark, nearly what Illumina did in last quarter alone. If you’re sad because you missed out on the meteoric rise of Pacific Biosciences stock, just remember people, the journey isn’t always about the destination.
Is Pacific Biosciences betting on future growth?
In other words, investors in Pacific Biosciences are betting on the promise of future growth.
Is Pacific Biosciences close to an inflection in clinical demand?
In a November 2020 research note, ARK includes a section titled “ Pacific Biosciences Is Close to an Inflection in Clinical Demand ” which talks about how “long-reads can detect difficult-to-sequence mutations” something that comes in handy for oncology, rare diseases, hereditary disease predisposition, and neurology. Companies like Invitae are migrating from short-read to long-read sequencing which is just the beginning of the third age of genetic sequencing. If in fact long-read sequencing is the way forward, it would make sense to vet other providers of long-read sequencing technology.