$69.32 Million in Sales Expected for Puma Biotechnology Inc (PBYI) This Quarter

Equities research analysts expect that Puma Biotechnology Inc (NASDAQ:PBYI) will post $69.32 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Puma Biotechnology’s earnings, with the highest sales estimate coming in at $74.00 million and the lowest estimate coming in at $64.63 million. The company is expected to announce its next earnings results on Wednesday, May 9th.

According to Zacks, analysts expect that Puma Biotechnology will report full year sales of $235.37 million for the current financial year, with estimates ranging from $235.00 million to $235.73 million. For the next year, analysts expect that the business will report sales of $474.61 million per share, with estimates ranging from $427.11 million to $522.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Puma Biotechnology.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, topping the consensus estimate of ($1.98) by $0.27. The business had revenue of $21.60 million for the quarter, compared to the consensus estimate of $20.83 million. During the same period in the prior year, the business earned ($1.22) earnings per share.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Credit Suisse Group set a $142.00 target price on shares of Puma Biotechnology and gave the company a “buy” rating in a research note on Monday, January 15th. ValuEngine cut shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Citigroup reissued a “buy” rating and issued a $164.00 target price on shares of Puma Biotechnology in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada decreased their target price on shares of Puma Biotechnology to $77.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Puma Biotechnology presently has an average rating of “Hold” and a consensus price target of $103.11.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 1,860 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total transaction of $172,515.00. Following the completion of the sale, the senior vice president now owns 25,379 shares of the company’s stock, valued at approximately $2,353,902.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan H. Auerbach sold 10,692 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $991,683.00. Following the sale, the insider now directly owns 4,155,931 shares of the company’s stock, valued at approximately $385,462,600.25. The disclosure for this sale can be found here. Company insiders own 21.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PBYI. BlackRock Inc. lifted its holdings in Puma Biotechnology by 31.4% during the 4th quarter. BlackRock Inc. now owns 2,385,036 shares of the biopharmaceutical company’s stock valued at $235,763,000 after purchasing an additional 570,393 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Puma Biotechnology by 796.5% during the 4th quarter. Wells Fargo & Company MN now owns 524,933 shares of the biopharmaceutical company’s stock valued at $51,890,000 after purchasing an additional 466,382 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Puma Biotechnology by 265.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after purchasing an additional 350,300 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in Puma Biotechnology during the 4th quarter valued at $28,918,000. Finally, Carillon Tower Advisers Inc. acquired a new stake in Puma Biotechnology during the 4th quarter valued at $20,543,000. 95.95% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PBYI traded up $0.70 during midday trading on Tuesday, hitting $66.80. The stock had a trading volume of 668,591 shares, compared to its average volume of 947,215. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90. The company has a current ratio of 1.82, a quick ratio of 1.79 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2,504.59, a PE ratio of -8.51 and a beta of 0.15.

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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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