Puma Biotechnology (NASDAQ:PBYI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
A number of other equities research analysts have also issued reports on PBYI. ValuEngine raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus dropped their target price on Puma Biotechnology from $95.00 to $87.00 and set a “buy” rating on the stock in a research report on Friday, May 11th. Credit Suisse Group set a $106.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research report on Monday, May 7th. Zacks Investment Research raised Puma Biotechnology from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, May 7th. Finally, Barclays lowered Puma Biotechnology from an “overweight” rating to an “equal weight” rating and set a $90.00 price target on the stock. in a research report on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Puma Biotechnology has an average rating of “Hold” and an average price target of $101.00.
Shares of Puma Biotechnology opened at $59.15 on Friday, Marketbeat reports. Puma Biotechnology has a 52-week low of $47.00 and a 52-week high of $136.90. The company has a market capitalization of $2.24 billion, a P/E ratio of -7.54 and a beta of 0.08. The company has a current ratio of 1.91, a quick ratio of 1.87 and a debt-to-equity ratio of 0.85.
Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ 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 period in the prior year, the business posted ($1.16) EPS. research analysts forecast that Puma Biotechnology will post -3.75 earnings per share for the current year.
In other Puma Biotechnology news, insider Charles R. Eyler sold 1,211 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $53.00, for a total transaction of $64,183.00. Following the transaction, the insider now owns 35,816 shares of the company’s stock, valued at approximately $1,898,248. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of PBYI. Point72 Asset Management L.P. increased its position in shares of Puma Biotechnology by 391.1% during the 1st quarter. Point72 Asset Management L.P. now owns 1,281,117 shares of the biopharmaceutical company’s stock worth $87,180,000 after purchasing an additional 1,020,265 shares during the last quarter. venBio Select Advisor LLC bought a new position in shares of Puma Biotechnology during the 1st quarter worth approximately $56,166,000. BlackRock Inc. boosted its stake in shares of Puma Biotechnology by 31.4% during the 4th quarter. BlackRock Inc. now owns 2,385,036 shares of the biopharmaceutical company’s stock worth $235,763,000 after acquiring an additional 570,393 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Puma Biotechnology by 5,349.6% during the 1st quarter. Summit Trail Advisors LLC now owns 306,810 shares of the biopharmaceutical company’s stock worth $307,000 after acquiring an additional 301,180 shares during the period. Finally, Redmile Group LLC boosted its stake in shares of Puma Biotechnology by 19.9% during the 1st quarter. Redmile Group LLC now owns 1,095,612 shares of the biopharmaceutical company’s stock worth $74,556,000 after acquiring an additional 182,039 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
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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