Cowen set a $68.00 price target on Puma Biotechnology (NASDAQ:PBYI) in a research note released on Friday. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
PBYI has been the subject of several other reports. Goldman Sachs Group assumed coverage on Puma Biotechnology in a report on Monday, September 17th. They issued a sell rating and a $42.00 target price for the company. BidaskClub raised Puma Biotechnology from a strong sell rating to a sell rating in a report on Wednesday, September 12th. ValuEngine raised Puma Biotechnology from a strong sell rating to a sell rating in a report on Tuesday, October 2nd. Guggenheim assumed coverage on Puma Biotechnology in a report on Monday, September 17th. They issued a buy rating for the company. Finally, Cantor Fitzgerald reissued a buy rating and issued a $50.00 target price (down from $75.00) on shares of Puma Biotechnology in a report on Friday. Six analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $72.45.
Shares of Puma Biotechnology stock traded up $2.99 on Friday, hitting $23.06. The stock had a trading volume of 135,666 shares, compared to its average volume of 1,858,484. Puma Biotechnology has a 52-week low of $17.60 and a 52-week high of $136.90. The company has a debt-to-equity ratio of 3.14, a quick ratio of 2.64 and a current ratio of 2.68. The company has a market capitalization of $763.16 million, a P/E ratio of -2.92 and a beta of 0.42.
Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.97) by $0.60. Puma Biotechnology had a negative return on equity of 295.69% and a negative net margin of 73.45%. The business had revenue of $62.60 million during the quarter, compared to the consensus estimate of $57.94 million. During the same period in the previous year, the business earned ($1.36) EPS. The business’s quarterly revenue was up 926.2% on a year-over-year basis. As a group, analysts forecast that Puma Biotechnology will post -3.84 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of PBYI. Macquarie Group Ltd. purchased a new stake in Puma Biotechnology during the 2nd quarter valued at approximately $27,964,000. Jennison Associates LLC raised its stake in Puma Biotechnology by 95.9% during the 2nd quarter. Jennison Associates LLC now owns 950,998 shares of the biopharmaceutical company’s stock valued at $56,252,000 after acquiring an additional 465,453 shares during the last quarter. Millennium Management LLC raised its stake in Puma Biotechnology by 168.7% during the 2nd quarter. Millennium Management LLC now owns 546,630 shares of the biopharmaceutical company’s stock valued at $32,333,000 after acquiring an additional 343,180 shares during the last quarter. Redwood Investments LLC raised its stake in Puma Biotechnology by 79.3% during the 2nd quarter. Redwood Investments LLC now owns 349,260 shares of the biopharmaceutical company’s stock valued at $20,659,000 after acquiring an additional 154,487 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Puma Biotechnology by 5.7% during the 2nd quarter. BlackRock Inc. now owns 2,505,710 shares of the biopharmaceutical company’s stock valued at $148,211,000 after acquiring an additional 135,996 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.
About Puma Biotechnology
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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