$7.16 Million in Sales Expected for Puma Biotechnology Inc (PBYI) This Quarter
Analysts expect Puma Biotechnology Inc (NYSE:PBYI) to report $7.16 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Puma Biotechnology’s earnings, with the lowest sales estimate coming in at $1.59 million and the highest estimate coming in at $15.00 million. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Puma Biotechnology will report full year sales of $7.16 million for the current fiscal year, with estimates ranging from $7.96 million to $45.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $284.91 million per share, with estimates ranging from $115.74 million to $502.50 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Puma Biotechnology.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.78.
A number of equities research analysts have commented on the stock. Citigroup Inc. raised shares of Puma Biotechnology to a “buy” rating and set a $105.00 price objective on the stock in a report on Sunday, May 28th. Royal Bank Of Canada increased their price objective on shares of Puma Biotechnology from $40.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. J P Morgan Chase & Co reissued a “buy” rating on shares of Puma Biotechnology in a report on Tuesday, July 18th. Stifel Nicolaus reissued a “buy” rating and set a $118.00 price objective (up previously from $105.00) on shares of Puma Biotechnology in a report on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $109.56.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.73, for a total transaction of $1,248,067.75. Following the transaction, the insider now directly owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.48, for a total transaction of $188,771.04. Following the transaction, the senior vice president now owns 27,246 shares in the company, valued at $2,574,202.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,010,261 shares of company stock worth $159,425,452. Corporate insiders own 22.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in PBYI. Janus Henderson Group PLC purchased a new stake in shares of Puma Biotechnology during the second quarter worth $162,302,000. Camber Capital Management LLC purchased a new stake in shares of Puma Biotechnology during the first quarter worth $24,180,000. Franklin Resources Inc. purchased a new stake in shares of Puma Biotechnology during the second quarter worth $50,134,000. Redmile Group LLC increased its stake in shares of Puma Biotechnology by 33.7% in the first quarter. Redmile Group LLC now owns 1,725,414 shares of the biopharmaceutical company’s stock worth $64,185,000 after buying an additional 435,274 shares in the last quarter. Finally, Emerald Advisers Inc. PA purchased a new stake in shares of Puma Biotechnology during the first quarter worth $14,110,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
Shares of Puma Biotechnology (PBYI) opened at 80.60 on Tuesday. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $98.85. The company’s market capitalization is $3.00 billion. The firm’s 50 day moving average is $87.47 and its 200-day moving average is $58.78.
About Puma Biotechnology
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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