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What's in Store for Pacific Biosciences' (PACB) Q4 Earnings?
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Pacific Biosciences of California, Inc. (PACB - Free Report) is scheduled to release fourth-quarter 2020 results on Feb 10, after the closing bell. In the last reported quarter, the company matched its earnings estimate.
Q4 Estimates
Currently, the Zacks Consensus Estimate for fourth-quarter revenues is pegged at $27.2 million, suggesting a decline of 2.8% from the year-ago reported figure. The consensus estimate for earnings is pegged at 43 cents per share.
Factors to Note
Pacific Biosciences’ flagship platform — the Sequel system — has been fortifying the company’s presence worldwide. Notably, the Sequel system is a nucleic acid sequencing platform based on Single Molecule, Real Time (SMRT) technology.
The company installed 20 Sequel II systems in third-quarter 2020, enhancing the installed base of Sequel II by 14% to 168 as of Sep 30. Utilization on installed Sequel II systems returned to similar or even higher than pre-pandemic levels.
Sequel II consumables represented almost 70% of its total consumable shipments in the third quarter and around 25% of its consumable shipments were purchased for the older Sequel systems. Continued positive customer reception for the Sequel II systems remains a positive. This might have benefited the fourth-quarter performance.
Pacific Biosciences of California, Inc. Price and EPS Surprise
In August 2020, Pacific Biosciences inked a clinical research collaboration deal with Asuragen, a molecular diagnostics company specializing in offering easy-to-use products for complex testing in genetics and oncology. The objective of the collaboration is to develop molecular assays based on PacBio’s SMRT sequencing technology. The initial focus of the collaboration will be on research in support of assay development for the carrier screening market.
In October 2020, the company introduced the Sequel IIe System, the next instrument evolution powered by its SMRT Sequencing technology. The new Sequel IIe System makes HiFi sequencing accessible to any project where high accuracy, long read lengths and affordability are crucial. This development is expected to boost Pacific Biosciences’ flagship platform — the Sequel system.
In the same month, the company inked a research collaboration deal with Invitae focused on the investigation of clinically-relevant molecular targets for use in the development of advanced diagnostic testing for epilepsy. In order to support this collaboration, Invitae is widening the scope of its PacBio sequencing capacity to meet the growing demand for clinical applications dependent on highly accurate genomic information.
Further, in the same month, Children’s Mercy Kansas City, one of the nation’s top pediatric medical systems, inked a collaboration with Pacific Biosciences. The aim of this deal is to further understand the most challenging pediatric diseases utilzing PacBio’s highly accurate HiFi sequencing technology. The organizations will team up to sequence a statistically significant cohort of rare disease cases for which previous whole-genome and whole-exome sequencing studies have yielded no results.
These developments are likely to have contributed to the company’s fourth-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Pacific Biosciences has an Earnings ESP of +4.65%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #4 (Sell).
Stocks Worth a Look
Here are some other medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Option Care Health, Inc. (OPCH - Free Report) has an Earnings ESP of +34.69% and a Zacks Rank of 2.
Radius Health, Inc. (RDUS - Free Report) has an Earnings ESP of +10.54% and a Zacks Rank of 2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
What's in Store for Pacific Biosciences' (PACB) Q4 Earnings?
Pacific Biosciences of California, Inc. (PACB - Free Report) is scheduled to release fourth-quarter 2020 results on Feb 10, after the closing bell. In the last reported quarter, the company matched its earnings estimate.
Q4 Estimates
Currently, the Zacks Consensus Estimate for fourth-quarter revenues is pegged at $27.2 million, suggesting a decline of 2.8% from the year-ago reported figure. The consensus estimate for earnings is pegged at 43 cents per share.
Factors to Note
Pacific Biosciences’ flagship platform — the Sequel system — has been fortifying the company’s presence worldwide. Notably, the Sequel system is a nucleic acid sequencing platform based on Single Molecule, Real Time (SMRT) technology.
The company installed 20 Sequel II systems in third-quarter 2020, enhancing the installed base of Sequel II by 14% to 168 as of Sep 30. Utilization on installed Sequel II systems returned to similar or even higher than pre-pandemic levels.
Sequel II consumables represented almost 70% of its total consumable shipments in the third quarter and around 25% of its consumable shipments were purchased for the older Sequel systems. Continued positive customer reception for the Sequel II systems remains a positive. This might have benefited the fourth-quarter performance.
Pacific Biosciences of California, Inc. Price and EPS Surprise
Pacific Biosciences of California, Inc. price-eps-surprise | Pacific Biosciences of California, Inc. Quote
In August 2020, Pacific Biosciences inked a clinical research collaboration deal with Asuragen, a molecular diagnostics company specializing in offering easy-to-use products for complex testing in genetics and oncology. The objective of the collaboration is to develop molecular assays based on PacBio’s SMRT sequencing technology. The initial focus of the collaboration will be on research in support of assay development for the carrier screening market.
In October 2020, the company introduced the Sequel IIe System, the next instrument evolution powered by its SMRT Sequencing technology. The new Sequel IIe System makes HiFi sequencing accessible to any project where high accuracy, long read lengths and affordability are crucial. This development is expected to boost Pacific Biosciences’ flagship platform — the Sequel system.
In the same month, the company inked a research collaboration deal with Invitae focused on the investigation of clinically-relevant molecular targets for use in the development of advanced diagnostic testing for epilepsy. In order to support this collaboration, Invitae is widening the scope of its PacBio sequencing capacity to meet the growing demand for clinical applications dependent on highly accurate genomic information.
Further, in the same month, Children’s Mercy Kansas City, one of the nation’s top pediatric medical systems, inked a collaboration with Pacific Biosciences. The aim of this deal is to further understand the most challenging pediatric diseases utilzing PacBio’s highly accurate HiFi sequencing technology. The organizations will team up to sequence a statistically significant cohort of rare disease cases for which previous whole-genome and whole-exome sequencing studies have yielded no results.
These developments are likely to have contributed to the company’s fourth-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Pacific Biosciences has an Earnings ESP of +4.65%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #4 (Sell).
Stocks Worth a Look
Here are some other medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
DENTSPLY SIRONA (XRAY - Free Report) has an Earnings ESP of +4.45% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Option Care Health, Inc. (OPCH - Free Report) has an Earnings ESP of +34.69% and a Zacks Rank of 2.
Radius Health, Inc. (RDUS - Free Report) has an Earnings ESP of +10.54% and a Zacks Rank of 2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>