Equities research analysts expect that Puma Biotechnology Inc (NASDAQ:PBYI) will announce sales of $53.01 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Puma Biotechnology's earnings, with the lowest sales estimate coming in at $50.95 million and the highest estimate coming in at $55.58 million. Puma Biotechnology reported sales of $56.40 million during the same quarter last year, which would suggest a negative year over year growth rate of 6%. The business is expected to report its next quarterly earnings report on Wednesday, November 4th.
According to Zacks, analysts expect that Puma Biotechnology will report full year sales of $233.87 million for the current financial year, with estimates ranging from $229.90 million to $237.76 million. For the next financial year, analysts forecast that the business will report sales of $243.45 million, with estimates ranging from $223.90 million to $267.62 million. Zacks Investment Research's sales averages are a mean average based on a survey of research analysts that follow Puma Biotechnology.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.08 EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.26) by $0.34. The business had revenue of $70.60 million for the quarter, compared to analyst estimates of $58.21 million. Puma Biotechnology had a negative return on equity of 246.80% and a negative net margin of 17.25%. Puma Biotechnology's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.57) EPS.
A number of equities analysts have commented on the company. BidaskClub lowered Puma Biotechnology from a "hold" rating to a "sell" rating in a research note on Wednesday, October 14th. ValuEngine lowered Puma Biotechnology from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Bank of America assumed coverage on Puma Biotechnology in a research note on Thursday, June 25th. They issued an "underperform" rating and a $9.00 price objective on the stock. Zacks Investment Research raised Puma Biotechnology from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research note on Tuesday, October 13th. Finally, SVB Leerink reduced their price objective on Puma Biotechnology from $14.00 to $10.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of "Hold" and a consensus target price of $12.11.
In related news, Director Jay M. Moyes sold 9,703 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.00, for a total value of $97,030.00. Following the completion of the sale, the director now owns 31,570 shares in the company, valued at $315,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 10,667 shares of company stock valued at $106,700 in the last quarter. 21.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBYI. BNP Paribas Arbitrage SA increased its holdings in Puma Biotechnology by 775.4% in the first quarter. BNP Paribas Arbitrage SA now owns 37,415 shares of the biopharmaceutical company's stock valued at $316,000 after purchasing an additional 33,141 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Puma Biotechnology by 6.1% in the first quarter. Wells Fargo & Company MN now owns 91,068 shares of the biopharmaceutical company's stock worth $768,000 after acquiring an additional 5,266 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Puma Biotechnology in the first quarter worth about $347,000. Advisor Group Holdings Inc. bought a new stake in shares of Puma Biotechnology in the first quarter worth about $80,000. Finally, Tang Capital Management LLC increased its holdings in shares of Puma Biotechnology by 129.0% in the first quarter. Tang Capital Management LLC now owns 800,000 shares of the biopharmaceutical company's stock worth $6,752,000 after acquiring an additional 450,600 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.
Puma Biotechnology stock opened at $9.75 on Tuesday. The company has a debt-to-equity ratio of 4.13, a quick ratio of 1.65 and a current ratio of 1.68. The firm has a market cap of $386.65 million, a P/E ratio of -9.02 and a beta of 1.24. The business's fifty day moving average is $9.92 and its two-hundred day moving average is $10.20. Puma Biotechnology has a 52 week low of $5.50 and a 52 week high of $15.00.
About Puma Biotechnology
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. Its drug candidates include PB272 neratinib (oral) for the treatment of early stage breast cancer, metastatic breast cancer, non-small cell lung cancer, HER2 mutation-positive solid tumors, and HER2-mutated non-amplified breast cancer; and PB272 neratinib (intravenous).
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