$57.32 Million in Sales Expected for Puma Biotechnology Inc (NASDAQ:PBYI) This Quarter

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Equities research analysts expect that Puma Biotechnology Inc (NASDAQ:PBYI) will report sales of $57.32 million for the current quarter, Zacks reports. Three analysts have provided estimates for Puma Biotechnology’s earnings, with estimates ranging from $55.97 million to $59.00 million. Puma Biotechnology reported sales of $71.10 million in the same quarter last year, which indicates a negative year over year growth rate of 19.4%. The business is expected to announce its next earnings results on Thursday, February 27th.

On average, analysts expect that Puma Biotechnology will report full year sales of $266.71 million for the current year, with estimates ranging from $265.33 million to $268.40 million. For the next financial year, analysts forecast that the firm will report sales of $245.19 million, with estimates ranging from $217.18 million to $267.28 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Puma Biotechnology.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.32. The firm had revenue of $56.40 million during the quarter, compared to analyst estimates of $60.21 million. Puma Biotechnology had a negative net margin of 33.90% and a negative return on equity of 325.89%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share.

A number of brokerages have recently issued reports on PBYI. Royal Bank of Canada lowered their target price on shares of Puma Biotechnology to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Goldman Sachs Group lowered shares of Puma Biotechnology from a “neutral” rating to a “sell” rating and lowered their target price for the company from $24.00 to $8.00 in a research note on Tuesday, October 8th. BidaskClub lowered shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Cantor Fitzgerald decreased their price objective on Puma Biotechnology from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Barclays decreased their price objective on Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.22.

Shares of PBYI traded up $0.34 during trading hours on Friday, reaching $8.75. 1,270,333 shares of the company traded hands, compared to its average volume of 1,896,956. The firm has a market cap of $340.90 million, a price-to-earnings ratio of -2.93 and a beta of 1.69. Puma Biotechnology has a 12-month low of $6.26 and a 12-month high of $43.90. The company has a current ratio of 1.71, a quick ratio of 1.67 and a debt-to-equity ratio of 6.84. The stock’s fifty day moving average price is $8.76 and its 200 day moving average price is $9.87.

Several hedge funds have recently added to or reduced their stakes in PBYI. Metropolitan Life Insurance Co NY raised its holdings in Puma Biotechnology by 14.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,615 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,305 shares in the last quarter. Millennium Management LLC raised its holdings in Puma Biotechnology by 49.3% in the third quarter. Millennium Management LLC now owns 677,395 shares of the biopharmaceutical company’s stock worth $7,292,000 after purchasing an additional 223,564 shares in the last quarter. Partner Investment Management L.P. raised its holdings in Puma Biotechnology by 22.8% in the third quarter. Partner Investment Management L.P. now owns 33,866 shares of the biopharmaceutical company’s stock worth $365,000 after purchasing an additional 6,299 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Puma Biotechnology by 111.7% in the third quarter. Point72 Asset Management L.P. now owns 506,221 shares of the biopharmaceutical company’s stock worth $5,449,000 after purchasing an additional 267,048 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Puma Biotechnology in the third quarter worth about $115,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Puma Biotechnology Company Profile

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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