(VIANEWS) – The NASDAQ opens in less than three hours and Pacific Biosciences of California‘s pre-market value is already 4.94% up.

Pacific Biosciences of California’s last close was $11.33, 20.21% below its 52-week high of $14.20.

The last session, NASDAQ ended with Pacific Biosciences of California (PACB) rising 0.35% to $11.33. NASDAQ rose 2.01% to $11,364.41, after two sequential sessions in a row of gains, on what was an all-around positive trend exchanging session.

Why is Pacific Biosciences of California Stock Going up?

Pacific Biosciences of California (PACB) is a biotechnology company that designs and manufactures advanced sequencing systems. These systems are used to perform genetic analysis. Its products include the Sequel system.

The company has recently made several strategic deals. Among them, it acquired Omniome, a manufacturer of long-read and short-read DNA sequencers, in September 2022. PacBio also acquired Circulomics in July 2021 for $29.5 million.

Pacific Biosciences of California stock has seen a decline in the last week. This drop was due to the release of preliminary results for the fourth quarter. In that period, unaudited revenue reached only $36 million. That means that PACB missed the market’s expectation for revenues by about 8%.

While the company’s net loss for the quarter was $71.4 million, analysts believe that the company will report a profit in the second quarter of 2022. They forecast that the company will earn $35.3 million in revenues for the period.

Despite a number of challenges, Pacific Biosciences continues to grow. Nevertheless, analysts think that the company’s growth rate will slow down. Moreover, the global shortage of semiconductors may negatively affect its business.

Pacific Biosciences of California stock could have a buying opportunity at current levels. But, it is wise to consider the general trend and the factors that matter before making any purchase.

The company’s valuation is quite high. It is trading at 24.3 times trailing sales. However, the company has a strong balance sheet and cash on hand. It can cover its capital expenditures for the next few quarters.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; public health labs, hospitals and clinical research institutes, contract research organizations, and academic institutions; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. Pacific Biosciences of California, Inc. has a development and commercialization agreement with Invitae Corporation. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.

Earnings Per Share

As for profitability, Pacific Biosciences of California has a trailing twelve months EPS of $-0.34.

The company’s return on equity, which measures the profitability of a business relative to shareholder’s equity, for the twelve trailing months is negative -43.76%.

Growth Estimates Quarters

For the current quarter, the company expects to grow by a negative 521.5% and negative 9.7% respectively.

Volume

Today’s last reported volume for Pacific Biosciences of California is 3327507 which is 34.7% below its average volume of 4731950.

Sales Growth

The sales growth at Pacific Biosciences of California is 1.5% in the current quarter, and 4.4% the following.

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