Pacific Biosciences of California (PACB) closed the most recent trading day at $2.30, moving -15.44% from the previous trading session. This move lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 1.25%.
The stock of maker of genetic analysis technology has risen by 110.85% in the past month, leading the Medical sector's loss of 3.97% and the S&P 500's gain of 1.15%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company's upcoming EPS is projected at -$0.13, signifying a 8.33% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $37.86 million, down 1.51% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.43 per share and revenue of $156.1 million, indicating changes of +18.87% and -2.44%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Pacific Biosciences of California. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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 94, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).