Pacific Biosciences set to rally Pacific Biosciences of California, Inc. PACB reported fourth-quarter 2019 break-even earnings per share (EPS) versus the Zacks Consensus Estimate of a loss of 16 cents. The company had reported a loss of 21 cents in the year-ago quarter.
Revenues of this Zacks Rank #3 (Hold) company totaled $27.93 million, which outpaced the Zacks Consensus Estimate by 9.8%. Revenues improved 43% from the year-ago quarter’s tally.
FY19 at a Glance
Pacific Biosciences’ 2019 revenues totaled $77.7 million, up 17.2% but below the Zacks Consensus Estimate of $88.4 million.
Adjusted loss per share was 55 cents, narrower than the Zacks Consensus Estimate of a loss of 71 cents. The company had reported a loss of 76 cents in 2018.
Segmental Analysis
Product Revenues: At this segment, revenues amounted to $24.6. million, up 49.4% from the prior-year quarter’s tally.
Service and Other Revenues: At this segment, revenues came in at $3.4 million, up 9.4% year over year.
PACB trade ideas
Overhyped or overlooked? Technical Analysis. PACB is on a tear right now with new of an acquisition deal by their competitor Illumina for 1.2 billion dollars. According to Forbes, this is the largest deal Illumina has ever made in more than 20 years. According to other reports the deal won't be finalized till mid-2019 though, so today's price increase seems to a result of that new breaking yesterday after hours. The other news surrounding PACB however was less bullish. Their recent earnings report had investors at a loss.
Metric Q3 2018 Q3 2017 Change (YOY)
Sales $18.2 million $23.5 million (22.9%)
Net income (loss) from continuing operations ($25 million) ($22 million)
Earnings (loss) per share (EPS) ($0.19) ($0.19)
From a technical standpoint, I'd wait to go long here. The run up stopped right at the edge of the ichimoku cloud which indicates to me that the there was a decent amount of speculation involved in this price run up. Curious what others are thinking.
Share you thoughts.
Thanks.
M patternLooks like we have one of those 'M's popping up. Only reason I'm posting this is because a retracement at 61.8% (golden ratio or something) lines up with my other longer term bull prediction and it helps explain the recent shoot downward. Ms usually have an explosive retracement from what I've seen.
Buying as soon as retracement starts to happen.