Puma Biotechnology Inc (NASDAQ:PBYI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $16.14, but opened at $20.07. Puma Biotechnology shares last traded at $23.00, with a volume of 5310005 shares changing hands.
Several research firms have recently weighed in on PBYI. Cantor Fitzgerald began coverage on shares of Puma Biotechnology in a research report on Monday, October 1st. They set an “overweight” rating and a $75.00 price objective for the company. BidaskClub lowered shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 20th. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, October 10th. Cowen set a $68.00 price objective on shares of Puma Biotechnology and gave the company a “hold” rating in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Puma Biotechnology from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Six investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $72.45.
The firm has a market capitalization of $763.16 million, a P/E ratio of -2.85 and a beta of 0.42. The company has a current ratio of 2.68, a quick ratio of 2.64 and a debt-to-equity ratio of 3.14.
Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.60. Puma Biotechnology had a negative net margin of 73.45% and a negative return on equity of 295.69%. The company had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.94 million. During the same period last year, the company posted ($1.36) earnings per share. The business’s revenue for the quarter was up 926.2% on a year-over-year basis. On average, equities research analysts expect that Puma Biotechnology Inc will post -3.56 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in PBYI. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Puma Biotechnology by 307.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 1,167 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Puma Biotechnology by 14.8% in the first quarter. Guggenheim Capital LLC now owns 41,484 shares of the biopharmaceutical company’s stock worth $2,823,000 after buying an additional 5,359 shares during the period. Royal Bank of Canada boosted its holdings in shares of Puma Biotechnology by 271.3% in the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 2,938 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in shares of Puma Biotechnology by 50.7% in the first quarter. Xact Kapitalforvaltning AB now owns 4,458 shares of the biopharmaceutical company’s stock worth $303,000 after buying an additional 1,500 shares during the period. Finally, Boston Advisors LLC acquired a new position in shares of Puma Biotechnology in the second quarter worth about $262,000. Institutional investors own 92.66% of the company’s stock.
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Puma Biotechnology Company Profile (NASDAQ:PBYI)
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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