Franklin Resources Inc. increased its stake in shares of Puma Biotechnology Inc (NASDAQ:PBYI) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 834,400 shares of the biopharmaceutical company’s stock after purchasing an additional 2,900 shares during the quarter. Franklin Resources Inc. owned 2.22% of Puma Biotechnology worth $82,480,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Puma Biotechnology by 31.4% in the fourth quarter. BlackRock Inc. now owns 2,385,036 shares of the biopharmaceutical company’s stock valued at $235,763,000 after acquiring an additional 570,393 shares during the period. Wells Fargo & Company MN raised its stake in shares of Puma Biotechnology by 796.5% during the 4th quarter. Wells Fargo & Company MN now owns 524,933 shares of the biopharmaceutical company’s stock worth $51,890,000 after buying an additional 466,382 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Puma Biotechnology by 265.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after buying an additional 350,300 shares during the period. Eagle Asset Management Inc. purchased a new stake in Puma Biotechnology in the 4th quarter valued at about $28,918,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in Puma Biotechnology in the 4th quarter valued at about $20,543,000. 95.95% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on PBYI shares. Royal Bank of Canada lowered their price target on Puma Biotechnology to $77.00 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Credit Suisse Group reduced their price objective on Puma Biotechnology from $147.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Citigroup reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, January 3rd. ValuEngine lowered Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $103.11.
Shares of PBYI traded down $2.00 during trading on Friday, reaching $62.80. The company’s stock had a trading volume of 630,018 shares, compared to its average volume of 603,381. Puma Biotechnology Inc has a twelve month low of $28.35 and a twelve month high of $136.90. The firm has a market cap of $2,444.24, a price-to-earnings ratio of -8.00 and a beta of 0.15. The company has a quick ratio of 1.79, a current ratio of 1.82 and a debt-to-equity ratio of 0.91.
Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.98) by $0.27. The business had revenue of $21.60 million during the quarter, compared to analyst estimates of $20.83 million. During the same period in the previous year, the company earned ($1.22) earnings per share. equities analysts expect that Puma Biotechnology Inc will post -4.07 earnings per share for the current fiscal year.
In other news, insider Alan H. Auerbach sold 10,692 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $991,683.00. Following the completion of the sale, the insider now directly owns 4,155,931 shares in the company, valued at approximately $385,462,600.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Paul Bryce sold 1,860 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $172,515.00. Following the completion of the sale, the senior vice president now owns 25,379 shares of the company’s stock, valued at $2,353,902.25. The disclosure for this sale can be found here. 21.10% of the stock is currently owned by insiders.
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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.
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