Brokerages Expect Puma Biotechnology Inc (PBYI) Will Post Quarterly Sales of $3.40 Million
Analysts expect Puma Biotechnology Inc (NYSE:PBYI) to post $3.40 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Puma Biotechnology’s earnings. The highest sales estimate is $4.30 million and the lowest is $2.50 million. The firm is expected to issue its next earnings results after the market closes on Thursday, November 9th.
On average, analysts expect that Puma Biotechnology will report full year sales of $3.40 million for the current financial year, with estimates ranging from $19.40 million to $22.77 million. For the next financial year, analysts forecast that the company will report sales of $248.49 million per share, with estimates ranging from $209.10 million to $296.56 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for 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).
Several analysts have issued reports on PBYI shares. Credit Suisse Group raised their price target on shares of Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, September 11th. Leerink Swann restated an “outperform” rating and issued a $125.00 price target (up from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. J P Morgan Chase & Co restated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, August 1st. Cowen and Company restated an “outperform” rating and issued a $120.00 price target (up from $91.00) on shares of Puma Biotechnology in a research report on Saturday, July 22nd. Finally, Bank of America Corporation restated a “buy” rating and issued a $117.00 price target (up from $100.00) on shares of Puma Biotechnology in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $126.56.
Shares of Puma Biotechnology (PBYI) opened at $130.45 on Friday. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $131.70.
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In other news, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the senior vice president now directly owns 42,239 shares of the company’s stock, valued at approximately $5,068,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.70% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in PBYI. Vanguard Group Inc. lifted its holdings in Puma Biotechnology by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock valued at $216,284,000 after purchasing an additional 45,735 shares during the last quarter. Janus Henderson Group PLC bought a new position in Puma Biotechnology during the 2nd quarter valued at about $162,302,000. BlackRock Inc. lifted its holdings in Puma Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after purchasing an additional 86,924 shares during the last quarter. Franklin Resources Inc. bought a new position in Puma Biotechnology during the 2nd quarter valued at about $50,134,000. Finally, Emerald Advisers Inc. PA lifted its holdings in Puma Biotechnology by 16.5% during the 3rd quarter. Emerald Advisers Inc. PA now owns 370,035 shares of the biopharmaceutical company’s stock valued at $44,312,000 after purchasing an additional 52,355 shares during the last quarter. 80.98% of the stock is owned by institutional investors.
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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