Analyst Edward White of H.C. Wainwright reiterated a Buy rating on Puma Biotechnology (PBYI – Research Report), with a price target of $8.00.
Edward White’s Buy rating for Puma Biotechnology is underpinned by several factors.
Primarily, White’s rating draws upon the findings presented at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics regarding the Phase 1/2 trial of alisertib and Keytruda for the treatment of patients with Rb-deficient head and neck squamous cell carcinoma (HNSCC). Although the clinical response to the alisertib combo was limited, the duration of the stable disease was noted as interesting. Alisertib, a selective, small-molecule, orally administered inhibitor of aurora kinase A, has recently been granted FDA Orphan Drug Designation for the treatment of small cell lung cancer (SCLC). This, combined with the fact that the combination therapy of alisertib and Keytruda was well tolerated and did not raise new safety concerns, played a significant role in White’s rating decision.
White’s Buy recommendation is further supported by the company’s financial prospects. His $8 price target is based on a P/E multiple of 10x on his 2025 non-GAAP EPS estimate of $0.84, which he sees as reasonable given his EPS growth estimates of 141% in 2023, a slight decrease of -4% in 2024, but a substantial increase of 37% in 2025. This potential for growth, coupled with the company’s drug development progress, solidifies his view that Puma Biotechnology is a promising investment.
White covers the Healthcare sector, focusing on stocks such as Inozyme Pharma, Valneva, and Lumos Pharma. According to TipRanks, White has an average return of -23.6% and a 22.69% success rate on recommended stocks.
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Puma Biotechnology (PBYI) Company Description:
Puma Biotechnology, Inc. is a development stage biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. The company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use. Puma Biotechnology was founded by Alan H. Auerbach on September 15, 2010 and is headquartered in Los Angeles, CA.
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