Puma Biotechnology, Inc. (NASDAQ:PBYI) Expected to Announce Quarterly Sales of $53.46 Million

Equities research analysts forecast that Puma Biotechnology, Inc. (NASDAQ:PBYI) will announce sales of $53.46 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Puma Biotechnology’s earnings. The highest sales estimate is $53.56 million and the lowest is $53.37 million. Puma Biotechnology reported sales of $50.80 million in the same quarter last year, which suggests a positive year over year growth rate of 5.2%. The business is scheduled to report its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Puma Biotechnology will report full year sales of $266.99 million for the current fiscal year, with estimates ranging from $265.11 million to $268.88 million. For the next financial year, analysts anticipate that the company will report sales of $273.57 million, with estimates ranging from $244.19 million to $302.94 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Puma Biotechnology.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.18. Puma Biotechnology had a negative return on equity of 355.42% and a negative net margin of 13.77%. The company had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $51.01 million.

A number of research analysts have issued reports on PBYI shares. The Goldman Sachs Group decreased their target price on Puma Biotechnology from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, August 6th. Royal Bank of Canada decreased their target price on Puma Biotechnology from $13.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Friday, August 6th.

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 5,332 shares of Puma Biotechnology stock in a transaction that occurred on Friday, July 2nd. The stock was sold at an average price of $8.84, for a total value of $47,134.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 11,182 shares of company stock worth $93,217. 19.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBYI. O Shaughnessy Asset Management LLC bought a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $46,000. E Fund Management Co. Ltd. bought a new stake in shares of Puma Biotechnology during the first quarter valued at approximately $48,000. Lazard Asset Management LLC bought a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $64,000. Royal Bank of Canada grew its holdings in Puma Biotechnology by 82.2% during the first quarter. Royal Bank of Canada now owns 9,206 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 4,153 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Puma Biotechnology during the second quarter worth $101,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.

Puma Biotechnology stock traded up $0.33 during midday trading on Friday, reaching $7.15. The company’s stock had a trading volume of 3,523 shares, compared to its average volume of 370,700. Puma Biotechnology has a 52 week low of $6.48 and a 52 week high of $14.14. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 2.33. The business has a 50-day moving average price of $7.31 and a 200-day moving average price of $9.04. The stock has a market cap of $291.57 million, a PE ratio of -7.93 and a beta of 1.13.

About Puma Biotechnology

Puma Biotechnology, Inc is a biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. The company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use.

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