Puma Biotechnology Inc (PBYI) Expected to Post Quarterly Sales of $18.05 Million

Wall Street analysts expect that Puma Biotechnology Inc (NASDAQ:PBYI) will post sales of $18.05 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Puma Biotechnology’s earnings, with the highest sales estimate coming in at $21.55 million and the lowest estimate coming in at $15.10 million. The company is expected to issue its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Puma Biotechnology will report full-year sales of $18.05 million for the current fiscal year, with estimates ranging from $21.20 million to $27.65 million. For the next year, analysts anticipate that the business will post sales of $248.62 million per share, with estimates ranging from $209.10 million to $296.96 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Puma Biotechnology.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.50) by $0.43. Puma Biotechnology had a negative return on equity of 310.69% and a negative net margin of 1,270.04%. The company had revenue of $6.10 million for the quarter, compared to the consensus estimate of $3.78 million. During the same period last year, the business posted ($1.11) earnings per share.

PBYI has been the topic of a number of recent research reports. Credit Suisse Group lifted their target price on Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, September 11th. Royal Bank of Canada decreased their target price on Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. They noted that the move was a valuation call. BidaskClub raised Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Barclays initiated coverage on Puma Biotechnology in a research report on Wednesday, September 6th. They set an “overweight” rating and a $103.00 target price on the stock. Finally, Bank of America reissued a “buy” rating and set a $135.00 target price (up from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $130.67.

In other Puma Biotechnology news, insider Charles R. Eyler sold 1,322 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $105.46, for a total transaction of $139,418.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 21.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in shares of Puma Biotechnology in the second quarter valued at approximately $162,302,000. Franklin Resources Inc. bought a new position in shares of Puma Biotechnology in the second quarter valued at approximately $50,134,000. Point72 Asset Management L.P. raised its stake in shares of Puma Biotechnology by 265.6% in the third quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after acquiring an additional 350,300 shares during the last quarter. Bain Capital Public Equity Management LLC raised its stake in shares of Puma Biotechnology by 291.0% in the second quarter. Bain Capital Public Equity Management LLC now owns 338,994 shares of the biopharmaceutical company’s stock valued at $29,628,000 after acquiring an additional 252,294 shares during the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Puma Biotechnology by 26.0% in the third quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock valued at $110,627,000 after acquiring an additional 190,500 shares during the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Puma Biotechnology (NASDAQ PBYI) traded down $0.95 during mid-day trading on Friday, reaching $98.85. The company had a trading volume of 531,228 shares, compared to its average volume of 658,385. Puma Biotechnology has a fifty-two week low of $28.35 and a fifty-two week high of $136.90. The firm has a market capitalization of $3,745.45, a P/E ratio of -12.08 and a beta of 0.73.

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Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

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