Wall Street brokerages forecast that Puma Biotechnology Inc (NASDAQ:PBYI) will announce $18.05 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Puma Biotechnology’s earnings, with estimates ranging from $15.10 million to $21.55 million. The firm is scheduled to announce its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Puma Biotechnology will report full year sales of $18.05 million for the current financial year, with estimates ranging from $21.20 million to $27.65 million. For the next fiscal year, analysts forecast that the firm will report sales of $248.62 million per share, with estimates ranging from $209.10 million to $296.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Puma Biotechnology.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.50) by $0.43. The company had revenue of $6.10 million for the quarter, compared to analyst estimates of $3.78 million. During the same quarter in the prior year, the business posted ($1.11) EPS.

PBYI has been the subject of several analyst reports. Credit Suisse Group lifted their price objective on shares of Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a research note on Monday, September 11th. Royal Bank of Canada dropped their price objective on shares of Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating for the company in a research note on Friday, November 10th. They noted that the move was a valuation call. BidaskClub upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Barclays initiated coverage on shares of Puma Biotechnology in a research note on Wednesday, September 6th. They issued an “overweight” rating and a $103.00 price objective for the company. Finally, Bank of America reiterated a “buy” rating and issued a $135.00 price objective (up previously from $117.00) on shares of Puma Biotechnology in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $130.67.

Puma Biotechnology (NASDAQ:PBYI) traded down $1.55 during midday trading on Wednesday, hitting $99.60. 463,500 shares of the stock were exchanged, compared to its average volume of 1,086,151. Puma Biotechnology has a one year low of $28.35 and a one year high of $136.90.

In other Puma Biotechnology news, insider Charles R. Eyler sold 1,322 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $105.46, for a total value of $139,418.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 in the company, valued at $5,068,680. The disclosure for this sale can be found here. 21.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PBYI. Janus Henderson Group PLC bought a new stake in shares of Puma Biotechnology during the 2nd quarter valued at approximately $162,302,000. Franklin Resources Inc. bought a new stake in shares of Puma Biotechnology during the 2nd quarter valued at approximately $50,134,000. Point72 Asset Management L.P. grew its holdings in shares of Puma Biotechnology by 265.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after purchasing an additional 350,300 shares during the last quarter. Bain Capital Public Equity Management LLC grew its holdings in shares of Puma Biotechnology by 291.0% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 338,994 shares of the biopharmaceutical company’s stock valued at $29,628,000 after purchasing an additional 252,294 shares during the last quarter. Finally, Perceptive Advisors LLC grew its holdings in shares of Puma Biotechnology by 26.0% during the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock valued at $110,627,000 after purchasing an additional 190,500 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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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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