Zacks: Analysts Anticipate Puma Biotechnology Inc (PBYI) Will Post Earnings of -$0.75 Per Share

Equities research analysts expect Puma Biotechnology Inc (NASDAQ:PBYI) to post ($0.75) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Puma Biotechnology’s earnings, with the lowest EPS estimate coming in at ($0.96) and the highest estimate coming in at ($0.64). Puma Biotechnology reported earnings per share of ($1.16) in the same quarter last year, which would suggest a positive year over year growth rate of 35.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Puma Biotechnology will report full year earnings of ($4.07) per share for the current financial year, with EPS estimates ranging from ($4.33) to ($3.72). For the next year, analysts forecast that the firm will post earnings of $0.18 per share, with EPS estimates ranging from ($0.93) to $0.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Puma Biotechnology.

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

PBYI has been the subject of several recent analyst reports. Cowen cut Puma Biotechnology from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $123.00 to $68.00 in a research note on Wednesday, January 24th. Credit Suisse Group set a $106.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research note on Friday, March 2nd. BidaskClub raised Puma Biotechnology from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Zacks Investment Research cut Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Finally, Stifel Nicolaus set a $95.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research note on Friday, March 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $103.11.

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

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Puma Biotechnology by 31.4% in the 4th quarter. BlackRock Inc. now owns 2,385,036 shares of the biopharmaceutical company’s stock worth $235,763,000 after acquiring an additional 570,393 shares in the last quarter. Janus Henderson Group PLC increased its position in Puma Biotechnology by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,890,901 shares of the biopharmaceutical company’s stock worth $226,435,000 after purchasing an additional 33,270 shares during the last quarter. Perceptive Advisors LLC increased its position in Puma Biotechnology by 26.0% in the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after purchasing an additional 190,500 shares during the last quarter. Redmile Group LLC increased its position in Puma Biotechnology by 0.8% in the 4th quarter. Redmile Group LLC now owns 913,573 shares of the biopharmaceutical company’s stock worth $90,307,000 after purchasing an additional 6,931 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Puma Biotechnology by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 834,400 shares of the biopharmaceutical company’s stock worth $82,480,000 after purchasing an additional 2,900 shares during the last quarter. 95.95% of the stock is owned by institutional investors and hedge funds.

PBYI traded down $2.00 during trading on Friday, reaching $62.80. 630,018 shares of the company were exchanged, compared to its average volume of 603,381. The company has a market cap of $2,368.82, a P/E ratio of -8.00 and a beta of 0.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.82 and a quick ratio of 1.79. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $136.90.

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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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