Puma Biotechnology Inc (NASDAQ:PBYI) shares saw unusually-strong trading volume on Tuesday . Approximately 6,781,256 shares changed hands during trading, an increase of 623% from the previous session’s volume of 937,838 shares.The stock last traded at $63.55 and had previously closed at $51.10.
A number of analysts have weighed in on PBYI shares. Barclays decreased their price target on Puma Biotechnology from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, March 2nd. BidaskClub downgraded Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Saturday, March 3rd. Credit Suisse Group set a $106.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a report on Friday, March 2nd. Stifel Nicolaus set a $95.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a report on Friday, March 9th. Finally, ValuEngine upgraded Puma Biotechnology from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $99.20.
The company has a quick ratio of 1.87, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.00 billion, a P/E ratio of -8.10 and a beta of 0.08.
Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.26) by $0.61. The firm had revenue of $66.50 million during the quarter, compared to analyst estimates of $67.33 million. During the same quarter in the prior year, the business earned ($1.16) earnings per share. equities research analysts forecast that Puma Biotechnology Inc will post -3.83 EPS for the current year.
In other news, insider Charles R. Eyler sold 1,211 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $53.00, for a total value of $64,183.00. Following the completion of the sale, the insider now directly owns 35,816 shares in the company, valued at approximately $1,898,248. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 21.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PBYI. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Puma Biotechnology by 307.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,167 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at about $208,000. Jafra Capital Management LP acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at about $257,000. Royal Bank of Canada grew its stake in shares of Puma Biotechnology by 271.3% in the 1st quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 2,938 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at about $292,000. Institutional investors own 91.79% of the company’s stock.
Puma Biotechnology Company Profile
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States. Its drug candidates include PB272 neratinib (oral) for the treatment of early stage breast cancer, metastatic breast cancer, non-small cell lung cancer, HER2 mutation-positive solid tumors, and HER2-mutated non-amplified breast cancer; and PB272 neratinib (intravenous)).
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