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Puma Biotechnology (PBYI) to Report Q4 Earnings: What's in Store?
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We expect investors to focus on Puma Biotechnology, Inc.’s (PBYI - Free Report) progress with its sole marketed drug, Nerlynx (neratinib), and pipeline candidate, alisertib, when it reports fourth-quarter and full-year 2023 results on Feb 29 after market close.
Let’s see how things have shaped up for the quarter to be reported.
Factors at Play
Puma Biotechnology’s top line comprises sales of Nerlynx in the United States and license fees from its sub-licensees and royalty revenues. Nerlynx is indicated for treating early-stage HER2-positive breast cancer.
Total revenues are likely to have witnessed a decline in the to-be-reported quarter owing to lower Nerlynx sales.
In the last reported quarter, product revenues from Nerlynx were hurt by inventory drawdown at specialty pharmacies and specialty distributors. It remains to be seen whether the same trend continued or reversed in the to-be-reported quarter.
Shares of PBYI have rallied 64.9% in the past year against the industry’s decline of 7.3%.
Image Source: Zacks Investment Research
Also, in the last reported quarter, royalty revenues increased year over year due to the favorable timing of shipments to the company’s partner in China. It remains to be seen whether the same trend continued in the to-be-reported quarter.
As was the case in the third quarter, Puma Biotechnology is unlikely to have recorded any license revenues in the fourth quarter as well.
Earlier this month, the company initiated the ALISCA-Lung1, a phase II study (PUMA-ALI-4201) evaluating alisertib as monotherapy for the treatment of patients with extensive stage small cell lung cancer.
Investors will be keen to get more updates on the development of alisertib on the upcoming earnings call.
The activities related to pipeline development are most likely to have escalated Puma Biotechnology’s operating expenses in the fourth quarter.
Surprise History
Puma Biotechnology has a mixed earnings surprise history, beating estimates in three of the trailing four quarters and missing the same on one occasion. The company has an average surprise of 76.55%. In the last reported quarter, PBYI’s earnings beat estimates by 13.33%.
Our proven model does not conclusively predict an earnings beat for Puma Biotechnology this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Puma Biotechnology’s Earnings ESP is 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at 37 cents per share.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Compugen Ltd. (CGEN - Free Report) has an Earnings ESP of +451.63% and a Zacks Rank #2.
Compugen’s stock has surged 236.1% in the past year. CGEN beat earnings estimates in three of the last four quarters and missed the same on the other occasion, delivering an earnings surprise of 18.23% on average. CGEN will report fourth-quarter results on Mar 5.
Cullinan Oncology, Inc. (CGEM - Free Report) has an Earnings ESP of +1.04% and a Zacks Rank #2.
Cullinan Oncology’s stock has rallied 58.1% in the past year. CGEM beat earnings estimates in two of the last four quarters, met the same once and missed on the other occasion. Cullinan Oncology delivered a four-quarter negative average earnings surprise of 10.66%.
Sarepta Therapeutics, Inc. (SRPT - Free Report) has an Earnings ESP of +306.25% and a Zacks Rank #3.
Sarepta Therapeutics’ stock has risen 16.5% in the past year. SRPT beat earnings estimates in each of the last four quarters. Sarepta Therapeutics delivered an earnings surprise of 48.67%, on average. SRPT will report fourth-quarter results on Feb 28.
Image: Bigstock
Puma Biotechnology (PBYI) to Report Q4 Earnings: What's in Store?
We expect investors to focus on Puma Biotechnology, Inc.’s (PBYI - Free Report) progress with its sole marketed drug, Nerlynx (neratinib), and pipeline candidate, alisertib, when it reports fourth-quarter and full-year 2023 results on Feb 29 after market close.
Let’s see how things have shaped up for the quarter to be reported.
Factors at Play
Puma Biotechnology’s top line comprises sales of Nerlynx in the United States and license fees from its sub-licensees and royalty revenues. Nerlynx is indicated for treating early-stage HER2-positive breast cancer.
Total revenues are likely to have witnessed a decline in the to-be-reported quarter owing to lower Nerlynx sales.
In the last reported quarter, product revenues from Nerlynx were hurt by inventory drawdown at specialty pharmacies and specialty distributors. It remains to be seen whether the same trend continued or reversed in the to-be-reported quarter.
Shares of PBYI have rallied 64.9% in the past year against the industry’s decline of 7.3%.
Image Source: Zacks Investment Research
Also, in the last reported quarter, royalty revenues increased year over year due to the favorable timing of shipments to the company’s partner in China. It remains to be seen whether the same trend continued in the to-be-reported quarter.
As was the case in the third quarter, Puma Biotechnology is unlikely to have recorded any license revenues in the fourth quarter as well.
Earlier this month, the company initiated the ALISCA-Lung1, a phase II study (PUMA-ALI-4201) evaluating alisertib as monotherapy for the treatment of patients with extensive stage small cell lung cancer.
Investors will be keen to get more updates on the development of alisertib on the upcoming earnings call.
The activities related to pipeline development are most likely to have escalated Puma Biotechnology’s operating expenses in the fourth quarter.
Surprise History
Puma Biotechnology has a mixed earnings surprise history, beating estimates in three of the trailing four quarters and missing the same on one occasion. The company has an average surprise of 76.55%. In the last reported quarter, PBYI’s earnings beat estimates by 13.33%.
Puma Biotechnology, Inc. Price and EPS Surprise
Puma Biotechnology, Inc. price-eps-surprise | Puma Biotechnology, Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Puma Biotechnology this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Puma Biotechnology’s Earnings ESP is 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at 37 cents per share.
Zacks Rank: Puma Biotechnology currently carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Compugen Ltd. (CGEN - Free Report) has an Earnings ESP of +451.63% and a Zacks Rank #2.
Compugen’s stock has surged 236.1% in the past year. CGEN beat earnings estimates in three of the last four quarters and missed the same on the other occasion, delivering an earnings surprise of 18.23% on average. CGEN will report fourth-quarter results on Mar 5.
Cullinan Oncology, Inc. (CGEM - Free Report) has an Earnings ESP of +1.04% and a Zacks Rank #2.
Cullinan Oncology’s stock has rallied 58.1% in the past year. CGEM beat earnings estimates in two of the last four quarters, met the same once and missed on the other occasion. Cullinan Oncology delivered a four-quarter negative average earnings surprise of 10.66%.
Sarepta Therapeutics, Inc. (SRPT - Free Report) has an Earnings ESP of +306.25% and a Zacks Rank #3.
Sarepta Therapeutics’ stock has risen 16.5% in the past year. SRPT beat earnings estimates in each of the last four quarters. Sarepta Therapeutics delivered an earnings surprise of 48.67%, on average. SRPT will report fourth-quarter results on Feb 28.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.