Puma Biotech (PBYI) reports first quarter loss, revenue estimates are missing

Puma Biotech (PBYI) reports first quarter loss, revenue estimates are missing

Puma Biotech (PBYI) exited with a quarterly loss of $ 0.08 per share against the Zacks Consensus Estimate of a loss of $ 0.13. This compares to earnings of $ 0.40 per share from a year ago. These values ​​are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 38.46%. A quarter ago, this biopharmaceutical company was expected to post a loss of $ 0.11 per share when it actually made a profit of $ 0.10, offering a surprise of 190.91%.

In the past four quarters, the company has exceeded consensus estimates on EPS three times.

Puma Biotech, which belongs to the Zacks Medical – Biomedical and Genetics business, reported revenues of $ 45.7 million for the quarter ended March 2022, missing the Zacks consensus estimate by 0.78%. This compares with a turnover of $ 98.2 million a year ago. The company has surpassed consensus revenue estimates twice in the past four quarters.

The sustainability of the stock price’s immediate move based on recently released numbers and future earnings expectations will largely depend on management’s comment on the earnings call.

Puma Biotech shares have lost about 19.1% since the beginning of the year against the S&P 500’s decline of -9.8%.

What are the prospects for Puma Biotech?

While Puma Biotech has underperformed the market so far this year, the question that comes to investors’ minds is: what are the prospects for the stock?

There are no easy answers to this key question, but a reliable measure that can help investors address this problem is the company’s earnings outlook. Not only does this include the current consensus earnings expectations for the next few quarters, but also how these expectations have changed recently.

Empirical research shows a strong correlation between short-term equity movements and trends in earnings estimate revisions. Investors can track such revisions on their own or rely on a proven valuation tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the trend in estimates revisions for Puma Biotech: mixed. While the magnitude and direction of estimate revisions may change following the company’s newly released earnings report, the current status translates to a Zacks Rank # 3 (Hold) for the stock. Therefore, the shares are expected to be in line with the market in the near future. You can see the full list of Zacks # 1 Rank (Strong Buy) stock today here.

It will be interesting to see how the estimates change for the next few quarters and for the current fiscal year in the coming days. The current consensus EPS estimate is $ 0.02 on $ 52.39 million in revenue for the next quarter and $ 0.15 on $ 217.21 million in revenue for the current fiscal year.

Investors should be aware that the outlook for the sector can also have a significant impact on the stock’s performance. In terms of Zacks Industry Rank, Medical – Biomedical and Genetics is currently in the lowest 41% of the more than 250 Zacks industries. Our research shows that the richest 50% of Zacks-rated industries outnumber the poorest 50% by a factor of more than 2 to 1.

Xenon Pharmaceuticals (XENE), another stock in the same industry, has not yet reported results for the quarter ended March 2022. The results are expected to be released on May 10.

This gene therapy biotech company is expected to post a quarterly loss of $ 0.38 per share in its next report, representing a + 9.5% year-over-year change. The consensus estimate on EPS for the quarter has been revised by 0.4% more in the past 30 days at the current level.

Xenon Pharmaceuticals’ revenues are expected to be $ 9.22 million, up 111.5% from the quarter a year ago.

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Puma Biotechnology, Inc. (PBYI): Free Stock Analysis Report

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