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.
ILLEGAL ACTIVITY WARNING: “Puma Biotechnology Inc (PBYI) Expected to Post Quarterly Sales of $18.05 Million” was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.thelincolnianonline.com/2018/01/14/puma-biotechnology-inc-pbyi-expected-to-post-quarterly-sales-of-18-05-million-updated-updated.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.