Goldman Sachs Group lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a neutral rating to a sell rating in a report released on Tuesday morning, BenzingaRatingsTable reports. Goldman Sachs Group currently has $8.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $24.00.
Several other analysts have also commented on the company. Citigroup set a $13.00 target price on Puma Biotechnology and gave the stock a hold rating in a report on Monday, August 12th. Cowen reaffirmed a hold rating and set a $25.00 target price on shares of Puma Biotechnology in a report on Friday, August 9th. ValuEngine raised Puma Biotechnology from a sell rating to a hold rating in a report on Thursday, August 1st. Barclays dropped their target price on Puma Biotechnology from $21.00 to $9.00 and set an underweight rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reaffirmed a sell rating and set a $13.00 target price on shares of Puma Biotechnology in a report on Monday, August 12th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Puma Biotechnology currently has a consensus rating of Hold and a consensus price target of $17.25.
Shares of NASDAQ:PBYI opened at $7.13 on Tuesday. Puma Biotechnology has a 52-week low of $7.08 and a 52-week high of $45.90. The stock has a market cap of $277.34 million, a price-to-earnings ratio of -2.38 and a beta of 1.60. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 5.39. The business has a 50-day moving average price of $10.66 and a 200-day moving average price of $17.17.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.07). Puma Biotechnology had a negative return on equity of 254.09% and a negative net margin of 32.23%. The firm had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $53.40 million. During the same quarter in the previous year, the business earned ($0.59) earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Puma Biotechnology will post -2.67 EPS for the current fiscal year.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 16,157 shares of company stock worth $163,317. 21.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank grew its holdings in Puma Biotechnology by 2.0% in the second quarter. Swiss National Bank now owns 56,730 shares of the biopharmaceutical company’s stock valued at $722,000 after purchasing an additional 1,100 shares during the period. Northern Trust Corp grew its holdings in Puma Biotechnology by 0.4% in the second quarter. Northern Trust Corp now owns 356,356 shares of the biopharmaceutical company’s stock valued at $4,530,000 after purchasing an additional 1,477 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Puma Biotechnology by 23.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,500 shares of the biopharmaceutical company’s stock valued at $461,000 after purchasing an additional 2,000 shares during the period. Bank of Montreal Can grew its holdings in Puma Biotechnology by 577.6% in the second quarter. Bank of Montreal Can now owns 2,602 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 2,218 shares during the period. Finally, BB&T Securities LLC grew its holdings in Puma Biotechnology by 22.9% in the second quarter. BB&T Securities LLC now owns 13,397 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 2,499 shares during the period. 87.71% of the stock is currently owned by institutional investors.
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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