JPMorgan Chase & Co. reiterated their sell rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $13.00 price objective on the biopharmaceutical company’s stock.
A number of other equities analysts have also recently weighed in on PBYI. Goldman Sachs Group lowered their price objective on shares of Puma Biotechnology from $29.00 to $24.00 and set a neutral rating for the company in a research report on Wednesday, May 29th. They noted that the move was a valuation call. BidaskClub raised shares of Puma Biotechnology from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Cowen reaffirmed a hold rating and set a $25.00 price objective on shares of Puma Biotechnology in a research report on Friday, August 9th. Cantor Fitzgerald cut shares of Puma Biotechnology from an overweight rating to a neutral rating and lowered their price objective for the stock from $57.00 to $20.00 in a research report on Friday, May 10th. Finally, Zacks Investment Research cut shares of Puma Biotechnology from a buy rating to a hold rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $22.56.
Puma Biotechnology stock opened at $9.43 on Monday. The firm has a 50 day simple moving average of $10.76 and a 200-day simple moving average of $23.15. Puma Biotechnology has a 1-year low of $8.45 and a 1-year high of $50.75. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.53 and a quick ratio of 2.50. The stock has a market cap of $366.80 million, a price-to-earnings ratio of -3.15 and a beta of 1.73.
Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.07). The company had revenue of $53.90 million for the quarter, compared to analysts’ expectations of $53.40 million. Puma Biotechnology had a negative return on equity of 224.11% and a negative net margin of 32.23%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) EPS. Equities analysts expect that Puma Biotechnology will post -2.48 earnings per share for the current fiscal year.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $9.98, for a total transaction of $126,895.70. Following the sale, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 14,299 shares of company stock worth $146,360. 21.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PBYI. Norges Bank acquired a new stake in Puma Biotechnology during the 4th quarter worth approximately $13,719,000. Nuveen Asset Management LLC acquired a new stake in Puma Biotechnology during the 2nd quarter worth approximately $7,716,000. Deutsche Bank AG lifted its holdings in Puma Biotechnology by 340.1% during the 4th quarter. Deutsche Bank AG now owns 497,035 shares of the biopharmaceutical company’s stock worth $10,113,000 after buying an additional 384,099 shares in the last quarter. Morgan Stanley lifted its holdings in Puma Biotechnology by 273.6% during the 2nd quarter. Morgan Stanley now owns 487,392 shares of the biopharmaceutical company’s stock worth $6,194,000 after buying an additional 356,949 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Puma Biotechnology by 16.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,170,423 shares of the biopharmaceutical company’s stock worth $84,191,000 after buying an additional 308,479 shares in the last quarter. Institutional investors own 81.41% of the company’s stock.
About Puma Biotechnology
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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