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

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

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $3.83 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.46. The firm has a market capitalization of $184.76 million, a price-to-earnings ratio of 11.61 and a beta of 1.09. Puma Biotechnology has a one year low of $2.13 and a one year high of $7.73. The company has a 50 day moving average price of $3.45 and a 200 day moving average price of $4.65.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Puma Biotechnology

In other news, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the completion of the sale, the director now directly owns 350 shares in the company, valued at approximately $1,165.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Troy Edward Wilson sold 27,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.33, for a total transaction of $89,910.00. Following the completion of the sale, the director now owns 350 shares of the company’s stock, valued at approximately $1,165.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan H. Auerbach sold 21,920 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total transaction of $81,104.00. Following the completion of the transaction, the chief executive officer now owns 7,063,515 shares in the company, valued at approximately $26,135,005.50. The disclosure for this sale can be found here. Insiders have sold a total of 85,905 shares of company stock worth $294,859 in the last quarter. 23.70% of the stock is owned by insiders.

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.