Brokerages Expect Puma Biotechnology Inc (PBYI) Will Post Quarterly Sales of $3.60 Million
Wall Street brokerages expect Puma Biotechnology Inc (NYSE:PBYI) to report $3.60 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Puma Biotechnology’s earnings. The lowest sales estimate is $2.50 million and the highest is $4.90 million. The business is expected to report its next earnings results on Wednesday, November 8th.
On average, analysts expect that Puma Biotechnology will report full year sales of $3.60 million for the current fiscal year, with estimates ranging from $19.60 million to $22.77 million. For the next year, analysts anticipate that the firm will post sales of $247.39 million per share, with estimates ranging from $209.10 million to $296.56 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Puma Biotechnology.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78).
Several equities research analysts recently weighed in on PBYI shares. Credit Suisse Group boosted their target price on Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a research note on Monday, September 11th. J P Morgan Chase & Co restated a “buy” rating on shares of Puma Biotechnology in a research note on Tuesday, August 1st. Stifel Nicolaus boosted their target price on Puma Biotechnology from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. BidaskClub upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research cut Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Puma Biotechnology has an average rating of “Buy” and a consensus target price of $124.89.
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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 1,998 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.48, for a total value of $188,771.04. Following the completion of the sale, the senior vice president now owns 27,246 shares in the company, valued at $2,574,202.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan H. Auerbach sold 13,175 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total value of $1,248,067.75. Following the completion of the sale, the insider now owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,173 shares of company stock valued at $4,738,189. 22.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Paulson & CO. Inc. lifted its stake in Puma Biotechnology by 75.3% in the second quarter. Paulson & CO. Inc. now owns 27,500 shares of the biopharmaceutical company’s stock valued at $2,404,000 after buying an additional 11,810 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Puma Biotechnology by 5.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 140 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Puma Biotechnology by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 22,299 shares of the biopharmaceutical company’s stock valued at $1,950,000 after purchasing an additional 437 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Puma Biotechnology in the second quarter valued at approximately $146,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Puma Biotechnology in the second quarter valued at approximately $162,302,000. Institutional investors own 80.98% of the company’s stock.
Puma Biotechnology (NYSE PBYI) opened at 124.15 on Tuesday. The stock’s market capitalization is $4.62 billion. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $127.02. The company has a 50 day moving average of $108.65 and a 200 day moving average of $77.41.
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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