Pacific Biosciences of California (PACB) Advances While Market Declines: Some Information for Investors

Pacific Biosciences of California (PACB) closed the latest trading day at $1.26, indicating a +0.8% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.22%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.

Heading into today, shares of the maker of genetic analysis technology had lost 29.38% over the past month, lagging the Medical sector's loss of 0.63% and the S&P 500's loss of 7.48% in that time.

The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is forecasted to report an EPS of -$0.19, showcasing a 26.92% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $34.1 million, reflecting a 12.13% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.70 per share and revenue of $159.96 million, which would represent changes of +15.66% and +3.86%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Pacific Biosciences of California. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.4% higher. Pacific Biosciences of California is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Zacks Names #1 Semiconductor Stock

It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

Want 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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.