Puma Biotechnology (PBYI)


Market Price (10/22/2026): $10.88 | Market Cap: $554.2 MilSector: Health Care | Industry: Biotechnology

Puma Biotechnology (PBYI)


Market Price (10/22/2026): $10.88
Market Cap: $554.2 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%

Attractive yield
FCF Yield is 7.4%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.02

Stock price has recently run up significantly
12M Rtn12 month market price return is 111%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 68%

Key risks
PBYI key risks include [1] heavy reliance on its single product, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%
2 Attractive yield
FCF Yield is 7.4%
3 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
4 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
5 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.02
6 Stock price has recently run up significantly
12M Rtn12 month market price return is 111%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%
8 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 68%
9 Key risks
PBYI key risks include [1] heavy reliance on its single product, Show more.

PBYI in ETFs

Weight = PBYI's share of each fund

VTI0.00%
IWM0.02%
AVUV0.08%
VTWO0.01%
DFAS0.01%
IWO0.00%
IWN0.00%
IWV0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Puma Biotechnology (PBYI) stock has gained about 35% since 6/30/2026 because of the following key factors:

1. Puma Biotechnology reported strong financial results for its fiscal Q2 2026, which ended on June 30, 2026, and subsequently raised its full-year guidance, signaling robust performance driven by its lead product, NERLYNX. The company announced an earnings per share (EPS) of $0.19, significantly beating the Zacks Consensus Estimate of $0.04 by 90.00%. Revenue for the quarter reached $56.50 million, surpassing analysts' consensus estimates of $53 million. Following this strong performance, Puma Biotechnology raised its full-year 2026 total revenue guidance to a range of $224 million to $231 million, an increase from its previous projection of $222 million to $229 million. The growth was largely attributed to increasing demand for NERLYNX, with sales for the first six months of 2026 rising 3.5% year over year to $95.5 million.

2. The company advanced its clinical pipeline with the initiation of a new Phase II trial for its investigational drug, alisertib, demonstrating future growth potential. On September 17, 2026, Puma Biotechnology announced the commencement of its ALISCA®-Lung2 Phase II trial. This trial is evaluating alisertib in combination with paclitaxel for the treatment of patients with advanced small cell lung cancer.

Show more
Updated on 10/20/2026

Puma Biotechnology (PBYI) stock has gained about 35% since 6/30/2026 because of the following key factors:

1. Puma Biotechnology reported strong financial results for its fiscal Q2 2026, which ended on June 30, 2026, and subsequently raised its full-year guidance, signaling robust performance driven by its lead product, NERLYNX. The company announced an earnings per share (EPS) of $0.19, significantly beating the Zacks Consensus Estimate of $0.04 by 90.00%. Revenue for the quarter reached $56.50 million, surpassing analysts' consensus estimates of $53 million. Following this strong performance, Puma Biotechnology raised its full-year 2026 total revenue guidance to a range of $224 million to $231 million, an increase from its previous projection of $222 million to $229 million. The growth was largely attributed to increasing demand for NERLYNX, with sales for the first six months of 2026 rising 3.5% year over year to $95.5 million.

2. The company advanced its clinical pipeline with the initiation of a new Phase II trial for its investigational drug, alisertib, demonstrating future growth potential. On September 17, 2026, Puma Biotechnology announced the commencement of its ALISCA®-Lung2 Phase II trial. This trial is evaluating alisertib in combination with paclitaxel for the treatment of patients with advanced small cell lung cancer.

3. Analyst sentiment improved significantly following the positive financial results, and the market continued to correct a prior undervaluation of the stock. Several analysts revised their ratings and price targets upwards after the Q2 2026 earnings report. For example, TD Cowen increased its price target from $5.00 to $6.00 on August 7, 2026. Wall Street Zen upgraded Puma Biotechnology from a "buy" to a "strong-buy" rating on August 15, 2026. This positive shift in analyst outlook reinforced investor confidence. Additionally, an InvestingPro analysis noted that from November 2025, when the stock was identified as significantly undervalued at $4.73, it surged 95% to $9.97 by October 2026, indicating a substantial market correction of its intrinsic worth over the period.

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Stock Movement Drivers

Fundamental Drivers

The 34.4% change in PBYI stock from 6/30/2026 to 10/21/2026 was primarily driven by a 22.9% change in the company's P/E Multiple.
(LTM values as of)630202610212026Change
Stock Price ($)8.1110.9034.4%
Change Contribution By: 
Total Revenues ($ Mil)2272311.8%
Net Income Margin (%)10.7%11.6%7.6%
P/E Multiple16.920.822.9%
Shares Outstanding (Mil)5151-0.2%
Cumulative Contribution34.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/21/2026
ReturnCorrelation
PBYI34.4% 
Market (SPY)3.5%12.3%
Sector (XLV)12.8%33.0%

Fundamental Drivers

The 70.6% change in PBYI stock from 3/31/2026 to 10/21/2026 was primarily driven by a 100.7% change in the company's P/E Multiple.
(LTM values as of)331202610212026Change
Stock Price ($)6.3910.9070.6%
Change Contribution By: 
Total Revenues ($ Mil)2282311.3%
Net Income Margin (%)13.6%11.6%-15.2%
P/E Multiple10.420.8100.7%
Shares Outstanding (Mil)5051-1.1%
Cumulative Contribution70.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/21/2026
ReturnCorrelation
PBYI70.6% 
Market (SPY)19.2%16.5%
Sector (XLV)22.6%34.3%

Fundamental Drivers

The 105.3% change in PBYI stock from 9/30/2025 to 10/21/2026 was primarily driven by a 281.5% change in the company's P/E Multiple.
(LTM values as of)930202510212026Change
Stock Price ($)5.3110.90105.3%
Change Contribution By: 
Total Revenues ($ Mil)238231-2.9%
Net Income Margin (%)20.4%11.6%-43.2%
P/E Multiple5.420.8281.5%
Shares Outstanding (Mil)5051-2.4%
Cumulative Contribution105.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/21/2026
ReturnCorrelation
PBYI105.3% 
Market (SPY)17.0%12.7%
Sector (XLV)30.2%16.9%

Fundamental Drivers

The 314.4% change in PBYI stock from 9/30/2023 to 10/21/2026 was primarily driven by a 349.3% change in the company's P/S Multiple.
(LTM values as of)930202310212026Change
Stock Price ($)2.6310.90314.4%
Change Contribution By: 
Total Revenues ($ Mil)2302310.5%
P/S Multiple0.52.4349.3%
Shares Outstanding (Mil)4751-8.2%
Cumulative Contribution314.4%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/21/2026
ReturnCorrelation
PBYI314.4% 
Market (SPY)87.1%16.7%
Sector (XLV)45.6%19.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PBYI Return-70%39%2%-30%95%81%5%
Peers Return18%23%15%2%24%23%159%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
PBYI Win Rate33%33%58%50%58%70% 
Peers Win Rate55%55%53%57%63%60% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
PBYI Max Drawdown-79%-50%-54%-70%-27%-26% 
Peers Max Drawdown-18%-20%-17%-27%-24%-19% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ABBV, AMGN, GILD, REGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)

How Low Can It Go

EventPBYIS&P 500
2024 Yen Carry Trade Unwind
  % Loss-12.8%-7.8%
  % Gain to Breakeven14.7%8.5%
  Time to Breakeven83 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.5%-9.5%
  % Gain to Breakeven60.1%10.5%
  Time to Breakeven19 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.1%-6.7%
  % Gain to Breakeven96.4%7.1%
  Time to Breakeven246 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.6%-24.5%
  % Gain to Breakeven94.5%32.4%
  Time to Breakeven64 days427 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-56.9%-3.7%
  % Gain to Breakeven131.9%3.9%
  Time to Breakeven16 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-62.9%-12.2%
  % Gain to Breakeven169.6%13.9%
  Time to Breakeven531 days62 days

Compare to VRTX, ABBV, AMGN, GILD, REGN

In The Past

Puma Biotechnology's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPBYIS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.5%-9.5%
  % Gain to Breakeven60.1%10.5%
  Time to Breakeven19 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.1%-6.7%
  % Gain to Breakeven96.4%7.1%
  Time to Breakeven246 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.6%-24.5%
  % Gain to Breakeven94.5%32.4%
  Time to Breakeven64 days427 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-56.9%-3.7%
  % Gain to Breakeven131.9%3.9%
  Time to Breakeven16 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-62.9%-12.2%
  % Gain to Breakeven169.6%13.9%
  Time to Breakeven531 days62 days

Compare to VRTX, ABBV, AMGN, GILD, REGN

In The Past

Puma Biotechnology's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Puma Biotechnology (PBYI)

Puma Biotechnology, Inc. is a biopharmaceutical company dedicated to the advancement and commercialization of new therapies designed to improve cancer care. The company's core mission is to develop innovative treatment options for patients with various forms of cancer, operating both in the United States and internationally.

The company's primary product candidate is PB272, known as neratinib, an oral medication. Neratinib is being developed for several key indications. These include its use in patients with early-stage HER2-overexpressed/amplified breast cancer. Additionally, it is being investigated for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer, specifically in combination with capecitabine, and for addressing HER2 mutation-positive solid tumors.

Puma Biotechnology serves patients globally who are battling these specific types of cancers, aiming to provide them with enhanced treatment options. The company extends its market reach through strategic licensing and sub-licensing agreements with various pharmaceutical partners across different regions, ensuring its therapies can potentially benefit a wide international patient population.

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Here are a few brief analogies for Puma Biotechnology:

  • A specialized biotech company focused on developing and commercializing HER2-positive cancer treatments, much like a smaller, more focused Genentech.

  • A biopharmaceutical company dedicated to developing targeted cancer therapies, akin to a specialized version of Vertex Pharmaceuticals but for oncology.

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  • PB272 neratinib (oral): An oral drug candidate for patients with early-stage HER2-overexpressed/amplified breast cancer.
  • PB272 (neratinib, oral) in combination with capecitabine: An oral drug combination used to treat adult patients with advanced or metastatic HER2-positive breast cancer.
  • PB272 (neratinib, oral) for HER2 mutation-positive solid tumors: An oral drug candidate targeting solid tumors with HER2 mutations.
```

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Major Customers of Puma Biotechnology (PBYI)

Puma Biotechnology primarily sells its drug candidates through licensing agreements to other pharmaceutical companies, which then commercialize and distribute the products in specific territories. Based on the provided background, the company's major customers (or commercial partners via sub-licensing agreements) include:

  • Pfizer, Inc. (NYSE: PFE)
  • Specialised Therapeutics Asia Pte Ltd.
  • CANbridge BIOMED Limited
  • Pint Pharma International SA
  • Knight Therapeutics, Inc. (TSX: KHT)
  • Pierre Fabre Medicament SAS
  • Bixink Therapeutics Co., Ltd.

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Alan H. Auerbach, Chief Executive Officer, President and Chairman of the Board Mr. Auerbach has served as Puma Biotechnology's Chairman of the Board, Chief Executive Officer, and President since the company's inception. Prior to founding Puma, he was the Founder, Chief Executive Officer, President, and a Member of the Board of Directors of Cougar Biotechnology, Inc., from its inception in 2003 until its acquisition by Johnson & Johnson in July 2009 for approximately $1 billion. Following the acquisition, he served as Co-Chairman of the Integration Steering Committee at Cougar (as part of Johnson & Johnson) focusing on the development and global commercialization of abiraterone acetate. Before founding Cougar, Mr. Auerbach was Vice President, Senior Research Analyst at Wells Fargo Securities, covering small- and middle-capitalization biotechnology companies, and previously a Vice President, Research Analyst at Seidler Companies, Inc. Maximo F. Nougues, Chief Financial Officer Mr. Nougues joined Puma Biotechnology as Chief Financial Officer in November 2018. Prior to Puma, he worked for Getinge AB, a global medical device company, from January 2008 to October 2018, holding several leadership positions including regional chief financial officer for North America and the Americas. Before Getinge, Mr. Nougues held finance roles in Boston Scientific's cardiac surgery division (which Getinge acquired in 2008) and at The Clorox Company from 1998 to 2007. Douglas Hunt, Chief Regulatory Affairs, Medical Affairs, and Pharmacovigilance Officer Mr. Hunt joined Puma Biotechnology in January 2018 as Senior Vice President of Regulatory Affairs, Medical Writing and Project Management. He has over 25 years of regulatory affairs experience, including serving as Vice President Regulatory Affairs and Quality Assurance at ArmaGen Inc., and Vice President Global Regulatory Affairs (Bioscience) at Baxter International. Earlier in his career, he held various roles at Amgen, including Executive Director, Therapeutic Area Head (Oncology and Bone/Oncology) for Global Regulatory Affairs and Safety. Heather J. Blaber, Senior Vice President, Marketing Ms. Blaber joined Puma Biotechnology as Vice President of Marketing in June 2021 and currently serves as Senior Vice President, Marketing. She brings over 25 years of strategic marketing and sales leadership experience within the biopharmaceutical industry. Roger L. Storms, Senior Vice President of Sales Mr. Storms joined Puma Biotechnology in December 2024, bringing more than 20 years of commercial leadership experience in the biopharmaceutical industry. Before joining Puma, he spent 11 years at Amgen Biotechnology, where he held roles of increasing responsibility, most recently as Eastern U.S. Director of Sales, leading commercial efforts that generated over $3 billion in annual revenue.

AI Analysis | Feedback

Puma Biotechnology, Inc. (PBYI) faces several key risks inherent to its position as a biopharmaceutical company with a primary commercial product. Here are the key risks to Puma Biotechnology:

Heavy Reliance on a Single Commercial Product

Puma Biotechnology's business is predominantly dependent on the success and continued market performance of its single commercial product, NERLYNX (neratinib). Product revenue, which consists entirely of NERLYNX sales, contributed about 95.2% of the total revenue in Q3 2025. While the company is also developing alisertib, the core business's viability is tied directly to neratinib. Any significant challenges to neratinib, such as new competitive drugs, safety concerns leading to market withdrawal, or issues with market adoption, could severely impact the company's financial stability and future prospects.

Intense Competition in the Oncology Market

Puma Biotechnology operates in the highly competitive oncology market, particularly in HER2-positive breast cancer. The efficacy and market share of NERLYNX can be threatened by existing therapies and the continuous emergence of new, potentially more effective, safer, or cheaper treatments from competitors. For example, new novel agents in the adjuvant setting have been noted to lessen the need for extended adjuvant therapy, which is one of NERLYNX's indications. The introduction of other antibody-drug conjugates or other targeted therapies could intensify competitive pressure.

Patent Expiration and Generic Competition

Like all pharmaceutical companies, Puma Biotechnology faces the risk of patent expiration for its key drug, NERLYNX. The primary patent for the composition of matter claims for NERLYNX was extended to expire on December 29, 2030, following a Patent Term Extension Certificate issued by the USPTO. Other patents protecting the drug have various expiration dates, with some expiring as early as October 2025, and a key patent (U.S. Patent No. 8,518,446) set to expire on November 20, 2030. Generic entry for neratinib maleate, the active ingredient in NERLYNX, could occur as early as December 29, 2030, which may change due to patent challenges or generic licensing. There has already been patent litigation involving NERLYNX patents, indicating interest in generic launches. The loss of patent exclusivity will expose NERLYNX to generic competition, which typically leads to a significant decline in revenue and market share.

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Puma Biotechnology's main product, neratinib (PB272), addresses the following markets:

  • Early-stage HER2-overexpressed/amplified breast cancer: The global neratinib market, which is primarily indicated for the extended adjuvant treatment of early-stage HER2-positive breast cancer, was valued at approximately USD 1.3 billion in 2023. It is projected to reach USD 3.8 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 12.7% during the forecast period.

  • Advanced or metastatic HER2-positive breast cancer (in combination with capecitabine): The market for metastatic HER2-positive breast cancer in the seven major markets (7MM: United States, Germany, France, the United Kingdom, Italy, Spain, and Japan) was estimated at approximately USD 2.6 billion in 2022 and is expected to grow by 2032. More recently, the 7MM market amounted to USD 2,711.6 million in 2024 and is projected to reach USD 3,108.1 million by 2035. Specifically, in 2023, the HER2-positive breast cancer market in the United States was valued at over USD 1,600 million, with projections for continued growth by 2034. The market size for HER2-positive breast cancer in EU4 and the UK (Germany, France, Italy, Spain, and the United Kingdom) in 2023 exceeded USD 800 million, with expectations of an increase during the period of 2020–2034.

  • HER2 mutation-positive solid tumors: Information regarding a specific addressable market size for neratinib for HER2 mutation-positive solid tumors (as a broad category beyond breast cancer) is not available in the provided search results.

AI Analysis | Feedback

Puma Biotechnology (PBYI) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from its flagship product, Nerlynx (neratinib), and its developing pipeline.

  1. Continued Growth in Nerlynx Net Product Sales: Puma Biotechnology expects stable to increasing net product revenue from Nerlynx. In the fourth quarter of 2025, product revenue from Nerlynx increased by nearly 10% year-over-year. For the full year 2026, the company projects net product revenues for Nerlynx to be between $194 million and $198 million. Efforts to manage Nerlynx's side effects, such as implementing a dose escalation strategy where 75% of new patients start on a reduced dose, are expected to improve patient retention and adherence, further supporting sales.

  2. Expansion of Royalty Revenues from International Partnerships: Royalty revenues from ex-U.S. partners, particularly from shipments to China, are a significant growth driver. These revenues experienced a substantial increase to $15.6 million in Q4 2025, up from $2.6 million in Q3 2025. Puma forecasts royalty revenues for 2026 to range from $20 million to $23 million, indicating continued growth from its global collaborations.

  3. Advancement and Potential Commercialization of Alisertib: The progression of Puma Biotechnology's pipeline asset, alisertib, represents a potential new revenue stream. The company in-licensed alisertib for the treatment of hormone receptor-positive breast cancer and small-cell lung cancer (SCLC). Enrollment in the Phase II trials for alisertib has surpassed expectations, with 150 patients enrolled by February 2026, and interim data is anticipated in the second quarter of 2026. A successful outcome from these trials and subsequent regulatory approvals could lead to the launch of a new product, diversifying and enhancing Puma's revenue.

  4. Strategic International Market Penetration for Nerlynx: Beyond existing royalty agreements, Puma Biotechnology is focused on increasing the market penetration of Nerlynx through strategic partnerships for distribution in international markets. The company has established collaborations for Nerlynx distribution outside the U.S., targeting a significant patient population globally. This ongoing expansion into new territories through these partnerships is expected to contribute to overall revenue growth.

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Share Issuance

  • The number of outstanding shares for Puma Biotechnology consistently increased from approximately 40.99 million at the end of 2021 to 50.33 million at the end of 2025.
  • This growth reflects the issuance of approximately 9.34 million new shares over the five-year period from 2021 to 2025.
  • The approximate dollar value of shares issued annually, based on the increase in outstanding shares and average yearly stock prices, ranged from approximately $4.95 million (2024-2025) to $13.78 million (2021-2022).

Capital Expenditures

  • Puma Biotechnology reported purchases of property, plant and equipment totaling $36,000 in the fourth quarter of 2025.

Better Bets vs. Puma Biotechnology (PBYI)

Peer Outperformance in Biotechnology

PBYI has outperformed 88% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that PBYI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
91%
of 452 industry peers · 110.8% return
3Y
90%
of 398 industry peers · 373.9% return
5Y
88%
of 363 industry peers · 85.1% return
No Biotechnology peer with a comparable growth profile has beaten PBYI by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is PBYI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 16.9%54.7%100.0% CAH 481% · MCK 402% · COR 192%
Health Care Services 20 15.9%40.3%9.3% HIMS 245% · RDNT 125% · DGX 81%
Health Care Facilities 24 7.1%15.7%4.4% THC 282% · NHC 281% · ENSG 138%
Managed Health Care 8 36.1%-0.9%2.5% OSCR 99% · HQY 49% · ELV 9%
Health Care Equipment 50 -5.8%3.4%-12.7% UFPT 364% · GKOS 286% · TMDX 157%
Pharmaceuticals 61 -11.9%1.9%-34.2% LQDA 945% · KNSA 627% · CORT 518%
Health Care Supplies 11 15.5%-6.5%-40.2% LNTH 334% · HAE 63% · MMSI 29%
Life Sciences Tools & Services 109 -11.9%-9.2%-66.5% NTRA 268% · MEDP 256% · IRTC 61%
Biotechnology ← 364 -24.5%-24.7%-80.9% DNTH 1113% · ELVN 1062% · ADMA 810%
Health Care Technology 22 -28.0%-64.5%-82.8% VEEV -1% · DOCS -51%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PBYIVRTXABBVAMGNGILDREGNMedian
NamePuma Bio.Vertex P.AbbVie Amgen Gilead S.Regenero. 
Mkt Price10.88524.75287.21439.50154.50805.81363.36
Mkt Cap0.6133.1508.1237.3192.082.8162.6
Rev LTM23112,58764,38638,09530,45615,53522,995
Op Inc LTM304,77721,85011,42611,7164,1748,101
FCF LTM413,79618,21010,17512,9433,5756,986
FCF 3Y Avg401,95718,0768,7549,7363,4396,096
CFO LTM414,29319,50712,47813,5524,6818,580
CFO 3Y Avg402,39819,14310,31210,2964,4987,397

Growth & Margins

PBYIVRTXABBVAMGNGILDREGNMedian
NamePuma Bio.Vertex P.AbbVie Amgen Gilead S.Regenero. 
Rev Chg LTM-2.9%10.2%10.4%9.1%5.5%9.3%9.2%
Rev Chg 3Y Avg0.3%9.8%4.9%12.8%3.6%7.0%6.0%
Rev Chg Q7.8%12.5%10.2%9.5%10.2%16.7%10.2%
QoQ Delta Rev Chg LTM1.8%3.0%2.5%2.4%2.4%4.1%2.5%
Op Inc Chg LTM-33.9%2,497.9%59.5%39.5%7.6%6.1%23.5%
Op Inc Chg 3Y Avg25.2%792.2%11.2%12.3%-0.8%-1.7%11.7%
Op Mgn LTM13.2%37.9%33.9%30.0%38.5%26.9%32.0%
Op Mgn 3Y Avg13.7%23.9%27.5%24.5%37.0%28.2%26.0%
QoQ Delta Op Mgn LTM0.2%-0.2%0.8%1.6%-1.6%1.1%0.5%
CFO/Rev LTM17.8%34.1%30.3%32.8%44.5%30.1%31.5%
CFO/Rev 3Y Avg17.2%19.6%32.4%29.3%35.2%31.2%30.3%
FCF/Rev LTM17.8%30.2%28.3%26.7%42.5%23.0%27.5%
FCF/Rev 3Y Avg17.2%15.7%30.6%24.9%33.3%23.9%24.4%

Valuation

PBYIVRTXABBVAMGNGILDREGNMedian
NamePuma Bio.Vertex P.AbbVie Amgen Gilead S.Regenero. 
Mkt Cap0.6133.1508.1237.3192.082.8162.6
P/S2.410.67.96.26.35.36.3
P/Op Inc18.227.923.320.816.419.820.3
P/EBIT16.026.443.718.3-200.715.917.1
P/E20.730.280.527.1-59.319.123.9
P/CFO13.531.026.019.014.217.718.4
Total Yield4.8%3.3%3.6%5.9%0.4%5.7%4.2%
Dividend Yield0.0%0.0%2.4%2.2%2.1%0.5%1.3%
FCF Yield 3Y Avg19.0%1.6%4.5%4.9%6.8%4.9%4.9%
D/E0.00.00.10.20.10.00.1
Net D/E-0.2-0.00.10.20.1-0.10.0

Returns

PBYIVRTXABBVAMGNGILDREGNMedian
NamePuma Bio.Vertex P.AbbVie Amgen Gilead S.Regenero. 
1M Rtn13.5%2.7%9.3%11.8%2.6%1.0%6.0%
3M Rtn38.2%11.0%14.1%20.8%19.2%23.9%20.0%
6M Rtn46.4%19.9%45.2%28.8%17.7%8.2%24.3%
12M Rtn110.4%23.1%27.8%50.0%27.6%39.8%33.8%
3Y Rtn373.0%45.0%117.0%72.5%118.3%0.6%94.7%
1M Excs Rtn12.1%3.3%10.3%8.5%2.6%1.6%5.9%
3M Excs Rtn32.4%7.5%9.1%15.6%15.3%20.4%15.5%
6M Excs Rtn39.1%12.6%37.8%21.4%10.3%0.9%17.0%
12M Excs Rtn85.9%11.5%13.6%35.2%14.8%26.7%20.7%
3Y Excs Rtn255.0%-34.9%39.8%-7.7%38.8%-78.7%15.6%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA208051  NERLYNXneratinib maleatetablet717201744.2%15.3%-39.0%-87.8%-87.3%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA208051  NERLYNXneratinib maleatetablet717201744.2%15.3%-39.0%-87.8%-87.3%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Development and commercialization of innovative products to enhance cancer care228230236228 
License revenue    52
Product revenue, net    189
Royalty revenue    12
Total228230236228253


Assets by Segment
$ Mil2016
Development and commercialization of innovative products to enhance cancer care253
Total253


Price Behavior

Price Behavior
Market Price$10.90 
Market Cap ($ Bil)0.6 
First Trading Date04/20/2012 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$9.56$7.75
DMA Trendupup
Distance from DMA14.0%40.6%
 3M1YR
Volatility42.9%59.4%
Downside Capture-12.9463.68
Upside Capture104.48124.84
Correlation (S&P 500)13.2%12.5%
PBYI Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.030.220.300.500.550.77
Up Beta-1.98-1.43-0.811.050.200.38
Down Beta5.263.090.50-0.23-0.020.62
Up Capture15%111%106%87%133%191%
Bmk +ve Days6162766132424
Stock +ve Days14263870137385
Down Capture-139%-104%-5%-9%59%99%
Bmk -ve Days16263760120328
Stock -ve Days8162654111347

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PBYI
PBYI100.6%59.4%1.40-
Sector ETF (XLV)25.3%16.2%1.1917.5%
Equity (SPY)16.2%12.7%0.9011.8%
Gold (GLD)-6.0%29.0%-0.228.6%
Commodities (DBC)50.2%20.7%1.85-15.5%
Real Estate (VNQ)3.1%13.8%-0.0320.4%
Bitcoin (BTCUSD)-25.3%43.4%-0.5510.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PBYI
PBYI12.0%75.9%0.48-
Sector ETF (XLV)9.0%15.3%0.3922.4%
Equity (SPY)13.6%17.1%0.6121.8%
Gold (GLD)17.7%18.9%0.762.1%
Commodities (DBC)9.5%19.5%0.37-0.7%
Real Estate (VNQ)1.1%18.9%-0.0518.9%
Bitcoin (BTCUSD)7.6%51.7%0.3317.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PBYI
PBYI-15.4%79.9%0.16-
Sector ETF (XLV)11.6%16.7%0.5726.9%
Equity (SPY)15.5%17.9%0.7325.8%
Gold (GLD)12.2%16.4%0.610.5%
Commodities (DBC)8.2%18.1%0.377.3%
Real Estate (VNQ)5.2%20.7%0.2118.5%
Bitcoin (BTCUSD)62.6%66.2%1.0211.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity4.3 Mil
Short Interest: % Change Since 9152026-1.3%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest14.0 days
Basic Shares Quantity50.9 Mil
Short % of Basic Shares8.4%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20269.7%7.3%17.6%
5/7/20263.2%-1.0%-5.6%
2/26/2026-25.0%-18.0%-20.0%
11/6/202522.2%1.0%12.7%
8/7/202512.2%61.7%38.6%
5/8/2025-5.2%6.8%17.3%
2/27/202519.7%20.9%5.0%
11/7/2024-5.0%-1.3%-3.6%
...
SUMMARY STATS   
# Positive141614
# Negative10810
Median Positive10.7%9.0%18.4%
Median Negative-6.9%-12.8%-20.6%
Max Positive26.6%61.7%101.4%
Max Negative-37.2%-45.2%-53.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20269.7%7.3%17.6%
5/7/20263.2%-1.0%-5.6%
2/26/2026-25.0%-18.0%-20.0%
11/6/202522.2%1.0%12.7%
8/7/202512.2%61.7%38.6%
5/8/2025-5.2%6.8%17.3%
2/27/202519.7%20.9%5.0%
11/7/2024-5.0%-1.3%-3.6%
8/1/20249.4%9.4%-28.6%
5/2/2024-2.0%-3.4%-23.6%
2/29/2024-5.3%-7.6%-15.1%
11/2/202311.6%32.9%52.6%
8/3/20238.5%14.5%5.1%
5/4/202320.7%13.8%36.8%
3/2/2023-19.3%-31.9%-22.4%
11/3/202226.6%41.6%101.4%
8/4/202217.4%8.6%-21.1%
5/5/2022-11.4%-21.9%6.7%
3/3/20228.2%24.5%27.9%
11/4/2021-37.2%-45.2%-53.7%
8/5/20211.6%4.1%5.7%
5/6/20211.1%0.1%19.2%
2/25/2021-5.6%1.4%-6.3%
11/5/2020-8.1%3.8%35.5%
SUMMARY STATS   
# Positive141614
# Negative10810
Median Positive10.7%9.0%18.4%
Median Negative-6.9%-12.8%-20.6%
Max Positive26.6%61.7%101.4%
Max Negative-37.2%-45.2%-53.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202103/03/202210-K
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202003/01/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/28/202010-K
09/30/201911/07/201910-Q

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Net Product RevenueReported54.00 Mil55.00 Mil56.00 Mil7.8% Higher NewGuidance: 51.00 Mil for Q2 2026
Q3 2026 Royalty RevenueReported2.00 Mil2.50 Mil3.00 Mil0 Same NewGuidance: 2.50 Mil for Q2 2026
Q3 2026 Total RevenueReported56.00 Mil57.50 Mil59.00 Mil7.5% Higher NewGuidance: 53.50 Mil for Q2 2026
Q3 2026 Net IncomeReported2.00 Mil2.75 Mil3.50 Mil-8.3% Lower NewGuidance: 3.00 Mil for Q2 2026
2026 Net Product RevenueReported205.00 Mil207.00 Mil209.00 Mil1.5% RaisedGuidance: 204.00 Mil for 2026
2026 Royalty RevenueReported19.00 Mil20.50 Mil22.00 Mil-4.7% LoweredGuidance: 21.50 Mil for 2026
2026 Total RevenueReported224.00 Mil227.50 Mil231.00 Mil0.9% RaisedGuidance: 225.50 Mil for 2026
2026 Net IncomeReported17.00 Mil18.50 Mil20.00 Mil5.7% RaisedGuidance: 17.50 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Net Product RevenueReported50.00 Mil51.00 Mil 36.0% Higher NewGuidance: 37.50 Mil for Q1 2026
Q2 2026 Royalty RevenueReported2.00 Mil2.50 Mil 0 Same NewGuidance: 2.50 Mil for Q1 2026
Q2 2026 Total RevenueReported52.00 Mil53.50 Mil 33.8% Higher NewGuidance: 40.00 Mil for Q1 2026
Q2 2026 Net IncomeReported2.00 Mil3.00 Mil -133.3% Higher NewGuidance: -9.00 Mil for Q1 2026
2026 Net Product RevenueReported202.00 Mil204.00 Mil 4.1% RaisedGuidance: 196.00 Mil for 2026
2026 Royalty RevenueReported20.00 Mil21.50 Mil 0 AffirmedGuidance: 21.50 Mil for 2026
2026 Total RevenueReported222.00 Mil225.50 Mil 3.7% RaisedGuidance: 217.50 Mil for 2026
2026 Net IncomeReported16.00 Mil17.50 Mil 52.2% RaisedGuidance: 11.50 Mil for 2026

Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Net Product RevenueReported36.00 Mil37.50 Mil39.00 Mil-31.8% Lower NewActual: 55.00 Mil for Q4 2025
Q1 2026 Royalty RevenueReported2.00 Mil2.50 Mil3.00 Mil-81.5% Lower NewActual: 13.50 Mil for Q4 2025
Q1 2026 Total RevenueReported38.00 Mil40.00 Mil42.00 Mil-41.6% Lower NewActual: 68.50 Mil for Q4 2025
Q1 2026 Net IncomeReported-10.00 Mil-9.00 Mil-8.00 Mil-190.0% Lower NewActual: 10.00 Mil for Q4 2025
2026 Net Product RevenueReported194.00 Mil196.00 Mil198.00 Mil-1.5% Lower NewActual: 199.00 Mil for 2025
2026 Royalty RevenueReported20.00 Mil21.50 Mil23.00 Mil-4.4% Lower NewActual: 22.50 Mil for 2025
2026 Total RevenueReported214.00 Mil217.50 Mil221.00 Mil-1.8% Lower NewActual: 221.50 Mil for 2025
2026 Net IncomeReported10.00 Mil11.50 Mil13.00 Mil-58.9% Lower NewActual: 28.00 Mil for 2025

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Net Product RevenueReported54.00 Mil55.00 Mil56.00 Mil17.0% Higher NewGuidance: 47.00 Mil for Q3 2025
Q4 2025 Royalty RevenueReported13.00 Mil13.50 Mil14.00 Mil440.0% Higher NewGuidance: 2.50 Mil for Q3 2025
Q4 2025 Total RevenueReported67.00 Mil68.50 Mil70.00 Mil38.4% Higher NewGuidance: 49.50 Mil for Q3 2025
Q4 2025 Net IncomeReported9.00 Mil10.00 Mil11.00 Mil233.3% Higher NewGuidance: 3.00 Mil for Q3 2025
2025 Net Product RevenueReported198.00 Mil199.00 Mil200.00 Mil2.1% RaisedGuidance: 195.00 Mil for 2025
2025 Royalty RevenueReported22.00 Mil22.50 Mil23.00 Mil2.3% RaisedGuidance: 22.00 Mil for 2025
2025 Total RevenueReported220.00 Mil221.50 Mil223.00 Mil2.1% RaisedGuidance: 217.00 Mil for 2025
2025 Net IncomeReported27.00 Mil28.00 Mil29.00 Mil9.8% RaisedGuidance: 25.50 Mil for 2025

Insider Activity

Updated 9/16/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Wilson, Troy Edward DirectSell91620269.105,00045,500498,225Form
2Cesano, Alessandra DirectSell91620269.1262,150566,994517,274Form
3Auerbach, Alan HPresident and CEODirectSell70820268.2644,058364,05160,003,187Form
4Hunt, Douglas MSee RemarksDirectSell70820268.268,46069,9051,626,497Form
5Nougues, Maximo FChief Financial OfficerDirectSell70820268.269,38677,5571,905,754Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Wilson, Troy Edward DirectSell91620269.105,00045,500498,225Form
2Cesano, Alessandra DirectSell91620269.1262,150566,994517,274Form
3Auerbach, Alan HPresident and CEODirectSell70820268.2644,058364,05160,003,187Form
4Hunt, Douglas MSee RemarksDirectSell70820268.268,46069,9051,626,497Form
5Nougues, Maximo FChief Financial OfficerDirectSell70820268.269,38677,5571,905,754Form
6Wilson, Troy Edward DirectSell61520267.2010,80077,748430,134Form
7Stuglik, Brian M DirectSell61520267.208,10058,311819,652Form
8Senderowicz, Adrian DirectSell61520267.2027,000194,311194,311Form
9Moyes, Jay M DirectSell61520267.2222,000158,796420,968Form
10Dorval, Allison DirectSell61520267.2011,61083,579653,516Form
11Miller, Michael Patrick DirectSell111320254.8620,00097,228262,516Form

Investor Activity (13F)

Updated Oct 22, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Acorn Capital Advisors, LLC$26.4 Mil7.5%22Hold13F
Active Manager
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Acorn Capital Advisors, LLC$26.4 Mil7.5%22Hold13F
Core Cache Last Updated: 10/21/2026