Wall Street brokerages forecast that Puma Biotechnology (NASDAQ:PBYI) will announce $48.21 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Puma Biotechnology’s earnings, with the lowest sales estimate coming in at $46.00 million and the highest estimate coming in at $50.41 million. The firm is expected to report its next earnings results on Wednesday, August 8th.
On average, analysts expect that Puma Biotechnology will report full-year sales of $230.20 million for the current financial year, with estimates ranging from $224.50 million to $235.90 million. For the next financial year, analysts expect that the business will report sales of $420.41 million per share, with estimates ranging from $350.02 million to $490.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Puma Biotechnology.
Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.26) by $0.61. The company had revenue of $66.50 million for the quarter, compared to the consensus estimate of $67.33 million. During the same period last year, the company earned ($1.16) earnings per share.
Several analysts have recently commented on the stock. Credit Suisse Group set a $147.00 price target on shares of Puma Biotechnology and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada decreased their price target on shares of Puma Biotechnology to $77.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Cowen cut shares of Puma Biotechnology from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $123.00 to $68.00 in a research note on Wednesday, January 24th. Bank of America decreased their price target on shares of Puma Biotechnology from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup decreased their price target on shares of Puma Biotechnology from $164.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $99.20.
Shares of PBYI remained flat at $$54.05 during mid-day trading on Tuesday. 776,631 shares of the stock traded hands, compared to its average volume of 926,071. Puma Biotechnology has a twelve month low of $36.65 and a twelve month high of $136.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.87. The company has a market capitalization of $2.10 billion, a PE ratio of -6.89 and a beta of 0.18.
A number of hedge funds and other institutional investors have recently made changes to their positions in PBYI. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Puma Biotechnology by 307.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,167 shares during the period. First Republic Investment Management Inc. acquired a new position in Puma Biotechnology in the fourth quarter valued at approximately $208,000. Jafra Capital Management LP acquired a new position in Puma Biotechnology in the fourth quarter valued at approximately $257,000. Royal Bank of Canada lifted its holdings in Puma Biotechnology by 271.3% in the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 2,938 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new position in Puma Biotechnology in the fourth quarter valued at approximately $288,000. Institutional investors and hedge funds own 97.57% 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 in the United States. 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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