Puma Biotechnology Inc. (NASDAQ: PBYI) stock jumped 1.11% on Tuesday to $4.55 against a previous-day closing price of $4.50. With 0.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.21 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.5800 whereas the lowest price it dropped to was $4.1900. The 52-week range on PBYI shows that it touched its highest point at $4.60 and its lowest point at $1.60 during that stretch. It currently has a 1-year price target of $5.40. Beta for the stock currently stands at 0.67.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PBYI was up-trending over the past week, with a rise of 33.82%, but this was up by 102.22% over a month. Three-month performance surged to 40.43% while six-month performance rose 147.28%. The stock gained 43.08% in the past year, while it has gained 49.67% so far this year. A look at the trailing 12-month EPS for PBYI yields 0.22 with Next year EPS estimates of -0.01. For the next quarter, that number is 0.05. This implies an EPS growth rate of 52.70% for this year and -111.10% for next year.
Float and Shares Shorts:
At present, 45.57 million PBYI shares are outstanding with a float of 39.28 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.52 million, which was 3.35% higher than short shares on Sep 14, 2022. In addition to Mr. Alan H. Auerbach as the firm’s Founder, Chairman, Pres, CEO & Sec., Mr. Maximo F. Nougues serves as its CFO & Principal Accounting Officer.
Through their ownership of 63.05% of PBYI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.54% of PBYI, in contrast to 26.01% held by mutual funds. Shares owned by individuals account for 14.99%. As the largest shareholder in PBYI with 9.30% of the stake, Camber Capital Management LP holds 4,235,000 shares worth 4,235,000. A second-largest stockholder of PBYI, The Vanguard Group, Inc., holds 3,609,186 shares, controlling over 7.92% of the firm’s shares. Millennium Management LLC is the third largest shareholder in PBYI, holding 2,792,549 shares or 6.13% stake. With a 2.51% stake in PBYI, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,141,707 shares are owned by the mutual fund manager. The Vanguard Explorer Fund, which owns about 1.71% of PBYI stock, is the second-largest Mutual Fund holder. It holds 777,390 shares valued at 1.69 million. Vanguard Strategic Equity Fund holds 1.19% of the stake in PBYI, owning 540,434 shares worth 1.18 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PBYI since 5 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PBYI analysts setting a high price target of $8.00 and a low target of $2.00, the average target price over the next 12 months is $5.40. Based on these targets, PBYI could surge 75.82% to reach the target high and fall by -56.04% to reach the target low. Reaching the average price target will result in a growth of 18.68% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PBYI will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of $0.19 being high and $0.14 being low. For PBYI, this leads to a yearly average estimate of $0.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Puma Biotechnology Inc. surprised analysts by $0.06 when it reported -$0.01 EPS against a consensus estimate of -$0.07. The surprise factor in the prior quarter was $0.20. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is $0.03. The average estimate for the next quarter is thus $0.04.
Summary of Insider Activity:
Insiders traded PBYI stock several times over the past three months with 0 Buys and 6 Sells. In these transactions, 0 shares were bought while 3,711 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 2,291,761 while 254,286 shares were sold.