ValuEngine downgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
A number of other brokerages have also recently issued reports on PBYI. Stifel Nicolaus upped their target price on Puma Biotechnology from $110.00 to $130.00 and gave the stock a buy rating in a research report on Monday, October 2nd. Credit Suisse Group reissued an outperform rating and issued a $136.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, September 27th. BidaskClub raised Puma Biotechnology from a buy rating to a strong-buy rating in a research report on Tuesday, October 3rd. Leerink Swann increased their price objective on Puma Biotechnology to $140.00 and gave the company an outperform rating in a research report on Friday, October 27th. Finally, Citigroup reissued a buy rating and issued a $156.00 price objective (up from $114.00) on shares of Puma Biotechnology in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Puma Biotechnology has an average rating of Buy and a consensus target price of $130.67.
Shares of Puma Biotechnology (NASDAQ PBYI) traded down $0.50 during trading on Wednesday, reaching $95.70. The company’s stock had a trading volume of 321,800 shares, compared to its average volume of 659,033. The company has a market capitalization of $3,630.00, a PE ratio of -11.68 and a beta of 0.72. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $136.90.
Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.50) by $0.43. The company had revenue of $6.10 million for the quarter, compared to the consensus estimate of $3.78 million. During the same period in the previous year, the company earned ($1.11) EPS. analysts predict that Puma Biotechnology will post -8.22 earnings per share for the current fiscal year.
In related news, insider Charles R. Eyler sold 1,322 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $105.46, for a total value of $139,418.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund raised its stake in Puma Biotechnology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 32,247 shares of the biopharmaceutical company’s stock worth $2,818,000 after acquiring an additional 1,446 shares in the last quarter. Perceptive Advisors LLC raised its stake in Puma Biotechnology by 26.0% during the third quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after acquiring an additional 190,500 shares in the last quarter. BlackRock Inc. raised its stake in Puma Biotechnology by 5.0% during the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after acquiring an additional 86,924 shares in the last quarter. Prudential Financial Inc. acquired a new position in Puma Biotechnology during the second quarter worth $302,000. Finally, Point72 Asset Management L.P. raised its stake in Puma Biotechnology by 265.6% during the third quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock worth $57,743,000 after acquiring an additional 350,300 shares in the last quarter. Institutional investors and hedge funds own 96.00% of the company’s stock.
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About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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