Analysts Expect Puma Biotechnology Inc (PBYI) Will Post Earnings of -$2.75 Per Share
Equities research analysts forecast that Puma Biotechnology Inc (NYSE:PBYI) will announce earnings per share (EPS) of ($2.75) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Puma Biotechnology’s earnings. The lowest EPS estimate is ($4.23) and the highest is ($2.21). Puma Biotechnology posted earnings of ($1.11) per share in the same quarter last year, which would suggest a negative year over year growth rate of 147.7%. The firm is expected to report its next earnings report after the market closes on Thursday, November 9th.
According to Zacks, analysts expect that Puma Biotechnology will report full-year earnings of ($8.92) per share for the current year, with EPS estimates ranging from ($10.15) to ($8.31). For the next financial year, analysts forecast that the firm will report earnings of ($5.33) per share, with EPS estimates ranging from ($6.62) to ($3.52). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Puma Biotechnology.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.78).
A number of brokerages have commented on PBYI. Leerink Swann increased their target price on Puma Biotechnology to $140.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Bank of America Corporation reiterated a “buy” rating and set a $135.00 target price (up previously from $117.00) on shares of Puma Biotechnology in a report on Monday, October 9th. Citigroup Inc. reiterated a “buy” rating and set a $156.00 target price (up previously from $114.00) on shares of Puma Biotechnology in a report on Thursday, October 5th. J P Morgan Chase & Co reiterated a “buy” rating and set a $131.00 target price on shares of Puma Biotechnology in a report on Wednesday, October 4th. Finally, BidaskClub upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $126.56.
Shares of Puma Biotechnology (NYSE:PBYI) traded up $4.85 during trading hours on Friday, reaching $131.00. The company’s stock had a trading volume of 159,036 shares.
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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $100.09, for a total transaction of $1,501,350.00. Following the transaction, the senior vice president now owns 28,239 shares of the company’s stock, valued at approximately $2,826,441.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 22.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Puma Biotechnology by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock worth $216,284,000 after purchasing an additional 45,735 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Puma Biotechnology during the 2nd quarter worth $162,302,000. BlackRock Inc. lifted its stake in shares of Puma Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after purchasing an additional 86,924 shares during the period. Franklin Resources Inc. purchased a new position in shares of Puma Biotechnology during the 2nd quarter worth $50,134,000. Finally, Emerald Advisers Inc. PA lifted its stake in shares of Puma Biotechnology by 16.5% during the 3rd quarter. Emerald Advisers Inc. PA now owns 370,035 shares of the biopharmaceutical company’s stock worth $44,312,000 after purchasing an additional 52,355 shares during the period. 80.98% of the stock is currently owned by institutional investors.
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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