Wall Street brokerages predict that Puma Biotechnology Inc (NYSE:PBYI) will post earnings per share of ($2.13) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Puma Biotechnology’s earnings, with the lowest EPS estimate coming in at ($2.23) and the highest estimate coming in at ($2.02). Puma Biotechnology reported earnings of ($2.05) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The business is expected to announce its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Puma Biotechnology will report full year earnings of ($8.74) per share for the current fiscal year, with EPS estimates ranging from ($10.71) to ($7.18). For the next financial year, analysts expect that the business will report earnings of ($4.65) per share, with EPS estimates ranging from ($9.57) to $0.89. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Puma Biotechnology.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) EPS for the quarter, topping the consensus estimate of ($2.06) by $0.09.
A number of analysts recently weighed in on PBYI shares. Royal Bank Of Canada decreased their price target on shares of Puma Biotechnology from $48.00 to $17.00 and set a “sector perform” rating for the company in a research report on Thursday, March 2nd. Citigroup Inc. reaffirmed a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research report on Saturday, March 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $58.00 price target on shares of Puma Biotechnology in a research report on Tuesday, April 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Finally, Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Puma Biotechnology presently has a consensus rating of “Buy” and a consensus target price of $86.94.
In other news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $75.38, for a total value of $93,147,066.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,990,088 shares of company stock worth $157,553,113. Company insiders own 22.70% of the company’s stock.
Several large investors have recently made changes to their positions in PBYI. Legal & General Group Plc raised its stake in shares of Puma Biotechnology by 2.8% in the first quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock valued at $346,000 after buying an additional 249 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its position in Puma Biotechnology by 3.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 30,000 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 1,000 shares during the period. Swiss National Bank boosted its position in Puma Biotechnology by 2.1% in the first quarter. Swiss National Bank now owns 54,730 shares of the biopharmaceutical company’s stock valued at $2,036,000 after buying an additional 1,100 shares during the period. Wells Fargo & Company MN boosted its position in Puma Biotechnology by 10.0% in the first quarter. Wells Fargo & Company MN now owns 24,151 shares of the biopharmaceutical company’s stock valued at $899,000 after buying an additional 2,201 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in Puma Biotechnology by 12.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,142 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 2,247 shares during the period. Institutional investors own 80.98% of the company’s stock.
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Shares of Puma Biotechnology (PBYI) traded down 0.76% during mid-day trading on Wednesday, hitting $77.90. The stock had a trading volume of 1,418,413 shares. Puma Biotechnology has a 12-month low of $27.64 and a 12-month high of $92.00. The stock’s market cap is $2.88 billion. The company’s 50 day moving average price is $57.52 and its 200 day moving average price is $41.84.
About Puma Biotechnology
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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