Puma Biotechnology (PBYI) Downgraded by ValuEngine

ValuEngine lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a sell rating in a report issued on Wednesday, January 3rd.

A number of other research firms also recently commented on PBYI. Stifel Nicolaus boosted their target price on shares of Puma Biotechnology from $110.00 to $130.00 and gave the stock a buy rating in a report on Monday, October 2nd. Credit Suisse Group reiterated an outperform rating and issued a $136.00 target price on shares of Puma Biotechnology in a report on Wednesday, September 27th. BidaskClub upgraded shares of Puma Biotechnology from a buy rating to a strong-buy rating in a report on Tuesday, October 3rd. Leerink Swann boosted their target price on shares of Puma Biotechnology to $140.00 and gave the stock an outperform rating in a report on Friday, October 27th. Finally, Citigroup reiterated a buy rating and issued a $156.00 target price (up from $114.00) on shares of Puma Biotechnology in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $130.67.

Shares of Puma Biotechnology (NASDAQ:PBYI) opened at $99.25 on Wednesday. Puma Biotechnology has a one year low of $28.35 and a one year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.50) by $0.43. The company had revenue of $6.10 million during the quarter, compared to analyst estimates of $3.78 million. During the same period in the prior year, the company posted ($1.11) earnings per share. research analysts predict that Puma Biotechnology will post -8.17 earnings per share for the current fiscal year.

In other news, insider Charles R. Eyler sold 1,322 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $105.46, for a total transaction of $139,418.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 21.10% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PBYI. Janus Henderson Group PLC acquired a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $162,302,000. Franklin Resources Inc. acquired a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $50,134,000. Point72 Asset Management L.P. raised its holdings in shares of Puma Biotechnology by 265.6% during the third quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after acquiring an additional 350,300 shares during the period. Bain Capital Public Equity Management LLC raised its holdings in shares of Puma Biotechnology by 291.0% during the second quarter. Bain Capital Public Equity Management LLC now owns 338,994 shares of the biopharmaceutical company’s stock valued at $29,628,000 after acquiring an additional 252,294 shares during the period. Finally, Perceptive Advisors LLC raised its holdings in shares of Puma Biotechnology by 26.0% during the third quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock valued at $110,627,000 after acquiring an additional 190,500 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.

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Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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