ValuEngine upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a sell rating to a hold rating in a report published on Thursday, ValuEngine reports.
A number of other brokerages have also recently commented on PBYI. Cowen restated a hold rating and issued a $28.00 price target on shares of Puma Biotechnology in a research report on Friday, July 5th. Goldman Sachs Group reduced their price objective on Puma Biotechnology from $29.00 to $24.00 and set a neutral rating on the stock in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Cantor Fitzgerald lowered Puma Biotechnology from an overweight rating to a neutral rating and reduced their price objective for the company from $57.00 to $20.00 in a research note on Friday, May 10th. BidaskClub raised Puma Biotechnology from a strong sell rating to a sell rating in a research note on Thursday. Finally, Zacks Investment Research lowered Puma Biotechnology from a buy rating to a hold rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Puma Biotechnology has a consensus rating of Hold and an average price target of $27.00.
Shares of NASDAQ PBYI traded down $0.43 during mid-day trading on Thursday, reaching $8.99. The company had a trading volume of 1,566,441 shares, compared to its average volume of 1,138,994. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.50 and a current ratio of 2.53. Puma Biotechnology has a one year low of $8.81 and a one year high of $54.20. The firm has a market cap of $372.61 million, a price-to-earnings ratio of -3.01 and a beta of 1.73. The company has a 50-day moving average price of $11.66.
Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.43. Puma Biotechnology had a negative return on equity of 245.22% and a negative net margin of 35.01%. The company had revenue of $99.10 million for the quarter, compared to analysts’ expectations of $67.25 million. During the same quarter last year, the business earned $0.03 earnings per share. Puma Biotechnology’s revenue was up 49.0% on a year-over-year basis. Equities research analysts predict that Puma Biotechnology will post -2.49 EPS for the current fiscal year.
In related news, insider Alan H. Auerbach sold 12,715 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $9.98, for a total value of $126,895.70. Following the sale, the insider now directly owns 4,189,525 shares of the company’s stock, valued at $41,811,459.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 13,782 shares of company stock worth $141,691 over the last ninety days. 21.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in Puma Biotechnology by 1.6% during the fourth quarter. BlackRock Inc. now owns 2,665,886 shares of the biopharmaceutical company’s stock worth $54,250,000 after purchasing an additional 41,785 shares during the last quarter. Geode Capital Management LLC increased its position in Puma Biotechnology by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 335,869 shares of the biopharmaceutical company’s stock worth $6,834,000 after purchasing an additional 11,840 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Puma Biotechnology by 383.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,698 shares of the biopharmaceutical company’s stock worth $197,000 after purchasing an additional 7,690 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Puma Biotechnology during the fourth quarter worth approximately $61,000. Finally, Jane Street Group LLC increased its position in Puma Biotechnology by 64.6% during the fourth quarter. Jane Street Group LLC now owns 27,896 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 10,952 shares during the last quarter. 86.95% 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. 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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