Puma Biotechnology (NASDAQ:PBYI) Posts Earnings Results, Beats Expectations By $0.01 EPS

Puma Biotechnology (NASDAQ:PBYI) released its earnings results on Thursday. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01, Zacks reports. The company had revenue of $47.10 million for the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.44%. During the same quarter last year, the firm earned $0.05 EPS. Puma Biotechnology updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Puma Biotechnology Trading Up 9.4 %

Shares of PBYI opened at $3.83 on Friday. Puma Biotechnology has a twelve month low of $2.13 and a twelve month high of $7.73. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 1.07. The firm has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $4.65. The stock has a market capitalization of $184.76 million, a P/E ratio of 11.61 and a beta of 1.09.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday. StockNews.com upgraded Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th.

Insiders Place Their Bets

In related news, CEO Alan H. Auerbach sold 18,885 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $3.27, for a total value of $61,753.95. Following the completion of the transaction, the chief executive officer now owns 7,085,435 shares of the company’s stock, valued at approximately $23,169,372.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the sale, the chief executive officer now owns 7,063,515 shares of the company’s stock, valued at $26,135,005.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Alan H. Auerbach sold 18,885 shares of Puma Biotechnology stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $3.27, for a total transaction of $61,753.95. Following the transaction, the chief executive officer now directly owns 7,085,435 shares of the company’s stock, valued at $23,169,372.45. The disclosure for this sale can be found here. Insiders sold 85,905 shares of company stock valued at $294,859 in the last three months. Corporate insiders own 23.70% of the company’s stock.

About Puma Biotechnology

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.