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Reasons to Add Puma (PBYI) Stock to Your Portfolio Right Now
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Puma Biotechnology (PBYI - Free Report) is a small cancer biotech company. Its only marketed product, Nerlynx (neratinib), is witnessing improving demand trends in the United States.
The company also recently acquired global rights for a development candidate, alisertib, from Takeda Pharmaceuticals.
Currently, Puma sports a Zacks Rank #1 (Strong Buy).
Below, we discuss three reasons why adding PBYI stock to your portfolio may prove beneficial in 2023.
Favorable Share Price Movement: Shares of the company have rallied 3.9% in the past month against the industry’s 2.8% decline.
Image Source: Zacks Investment Research
Improving Sales Trend for Nerlynx: Puma generates most of its revenues from the sale of Nerlyx. Product revenues from the drug totaled $200 million in 2022, up 5.8% year over year. The same amounted to $46.8 million in the first quarter of 2023, up 15% from that recorded a year ago.
The company received additional approvals for using Nerlynx in the extended adjuvant population. Some studies are ongoing, exploring the effectiveness of Nerlynx in different types of breast cancer and other cancer types.
Acquisition of Alisertib: Puma acquired global rights for alisertib, an aurora kinase A inhibitor, from Takeda. PBYI and Takeda aim to develop alisertib for metastatic breast cancer (ER-positive/HER2-negative and triple-negative) and small cell lung cancer (SCLC).
This second clinical stage project of the company, if developed successfully for the above-mentioned indications, has the potential to boost Puma’s position in the anticancer drug market.
PBYI expects to report biomarker data from a phase II study, evaluating alisertib plus paclitaxel versus paclitaxel alone in HER2-positive, HER2-negative breast cancer. The company also plans to conduct a meeting with the FDA in the fourth quarter to discuss the registration pathway for alisertib in the two types of breast cancer.
Puma intends to conduct a meeting with the FDA in the second quarter of 2023 to discuss the registration pathway for alisertib in SCLC. It plans to begin later-stage clinical studies in SCLC in the fourth quarter.
Conclusion
With a strong market position, PBYI presents an attractive investment opportunity. Its only marketed product, Nerlynx, shows significant potential, supported by FDA approvals and improving sales. The recent acquisition of alisertib further enhances its pipeline, targeting metastatic breast cancer and small-cell lung cancer.
Loss per estimates for ADMA have narrowed from 19 cents to 9 cents for 2023 in the past 60 days. Shares of ADMA have risen 19.2% in the past month.
ADMA Biologics’ earnings beat estimates in three of the trailing four quarters and met the mark in one, delivering an average surprise of 19.3%.
Loss per share estimates for Allogene have narrowed from $2.50 to $2.31 for 2023 and from $2.48 to $2.20 for 2024 in the past 60 days. Shares of ALLO have gained 13.2% in the past month.
Allogene’s earnings beat estimates in three of the last four quarters and missed the mark in one, the average surprise being 5.08%.
Loss per share estimates for Omega have narrowed from $2.51 to $2.18 for 2023 and from $2.57 to $2.22 for 2024 in the past 60 days. Shares of OMGA have risen 9.5% in the past month.
Omega’s earnings outpaced estimates in two of the last four quarters, missed the mark in one, and met in another, delivering an average surprise of 8.24%.
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Reasons to Add Puma (PBYI) Stock to Your Portfolio Right Now
Puma Biotechnology (PBYI - Free Report) is a small cancer biotech company. Its only marketed product, Nerlynx (neratinib), is witnessing improving demand trends in the United States.
The company also recently acquired global rights for a development candidate, alisertib, from Takeda Pharmaceuticals.
Currently, Puma sports a Zacks Rank #1 (Strong Buy).
Below, we discuss three reasons why adding PBYI stock to your portfolio may prove beneficial in 2023.
Favorable Share Price Movement: Shares of the company have rallied 3.9% in the past month against the industry’s 2.8% decline.
Image Source: Zacks Investment Research
Improving Sales Trend for Nerlynx: Puma generates most of its revenues from the sale of Nerlyx. Product revenues from the drug totaled $200 million in 2022, up 5.8% year over year. The same amounted to $46.8 million in the first quarter of 2023, up 15% from that recorded a year ago.
The company received additional approvals for using Nerlynx in the extended adjuvant population. Some studies are ongoing, exploring the effectiveness of Nerlynx in different types of breast cancer and other cancer types.
Acquisition of Alisertib: Puma acquired global rights for alisertib, an aurora kinase A inhibitor, from Takeda. PBYI and Takeda aim to develop alisertib for metastatic breast cancer (ER-positive/HER2-negative and triple-negative) and small cell lung cancer (SCLC).
This second clinical stage project of the company, if developed successfully for the above-mentioned indications, has the potential to boost Puma’s position in the anticancer drug market.
PBYI expects to report biomarker data from a phase II study, evaluating alisertib plus paclitaxel versus paclitaxel alone in HER2-positive, HER2-negative breast cancer. The company also plans to conduct a meeting with the FDA in the fourth quarter to discuss the registration pathway for alisertib in the two types of breast cancer.
Puma intends to conduct a meeting with the FDA in the second quarter of 2023 to discuss the registration pathway for alisertib in SCLC. It plans to begin later-stage clinical studies in SCLC in the fourth quarter.
Conclusion
With a strong market position, PBYI presents an attractive investment opportunity. Its only marketed product, Nerlynx, shows significant potential, supported by FDA approvals and improving sales. The recent acquisition of alisertib further enhances its pipeline, targeting metastatic breast cancer and small-cell lung cancer.
Puma Biotechnology, Inc. Price and Consensus
Puma Biotechnology, Inc. price-consensus-chart | Puma Biotechnology, Inc. Quote
Other Stocks to Consider
Some other top-ranked stocks in the same sector are ADMA Biologics (ADMA - Free Report) , Allogene Therapeutics (ALLO - Free Report) and Omega Therapeutics (OMGA - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Loss per estimates for ADMA have narrowed from 19 cents to 9 cents for 2023 in the past 60 days. Shares of ADMA have risen 19.2% in the past month.
ADMA Biologics’ earnings beat estimates in three of the trailing four quarters and met the mark in one, delivering an average surprise of 19.3%.
Loss per share estimates for Allogene have narrowed from $2.50 to $2.31 for 2023 and from $2.48 to $2.20 for 2024 in the past 60 days. Shares of ALLO have gained 13.2% in the past month.
Allogene’s earnings beat estimates in three of the last four quarters and missed the mark in one, the average surprise being 5.08%.
Loss per share estimates for Omega have narrowed from $2.51 to $2.18 for 2023 and from $2.57 to $2.22 for 2024 in the past 60 days. Shares of OMGA have risen 9.5% in the past month.
Omega’s earnings outpaced estimates in two of the last four quarters, missed the mark in one, and met in another, delivering an average surprise of 8.24%.