Puma Biotechnology (PBYI) Soars 14.0%: Is Further Upside Left in the Stock?
Puma Biotech (PBYI) shares rallied 14% in the last trading session to close at $5.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.9% loss over the past four weeks.
Earlier this week, the FDA notified the company that its investigational new drug application has been reviewed, and that the company can proceed with the clinical development of alisertib for the treatment of patients with human epidermal growth factor receptor 2-negative, hormone receptor-positive metastatic breast cancer in the phase II ALISCA-Breast1 trial study. This might have driven the share price rally.
This biopharmaceutical company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -133.3%. Revenues are expected to be $41.53 million, down 21.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Puma Biotechnology, the consensus EPS estimate for the quarter has been revised 225% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PBYI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Puma Biotechnology belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Certara, Inc. (CERT), closed the last trading session 0.2% lower at $17.62. Over the past month, CERT has returned 5%.
Certara's consensus EPS estimate for the upcoming report has changed -4.8% over the past month to $0.10. Compared to the company's year-ago EPS, this represents a change of -16.7%. Certara currently boasts a Zacks Rank of #4 (Sell).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
Certara, Inc. (CERT) : Free Stock Analysis Report
