Pacific Biosciences (NASDAQ: PACB) Stock shares are up in early trading today
The stock of Pacific Biosciences of California (NASDAQ: PACB) is showing upward trend in the early trading session today. Today company reported earnings, but the earnings are not so high. Investors will see good future in the company stock as it acquired by Illumina (ILMN) yesterday. Illumina (ILMN) acquired PACB for Approximately $1.2 Billion yesterday.
Due to this acquisition by Illumina (ILMN) the PACB stock is showing gain today. It is to see in future about the effect of this acquisition on the stock price of the company.
PACB Announces Earnings and Acquisition News Today
The stock of Pacific Biosciences of California opened with strong start in the early trading today after acquisitions news. It is showing upward trend in the pre-market hours today morning after release of acquisition news by company.
Earning of Company
The performance of PACB was not very well. During the current quarter of the year, the company revenue was $18.2 million, showing a 22.9% decline from $23.5 million on a year over year basis.
Prospects after Acquisition
Company releases the news about being acquired by Illumina (ILMN) for approximately $1.2 Billion yesterday.
Pacific Biosciences (NASDAQ: PACB) of California, Inc. is a biotechnology company which was founded in 2004. This company is Biosciences Company which develops and manufactures systems for gene sequencing. Company have novel solution for real time biological observation.