Puma Biotechnology Inc (NASDAQ:PBYI) has received an average rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.25.
PBYI has been the topic of several research reports. Barclays dropped their price objective on Puma Biotechnology from $21.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Zacks Investment Research lowered Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. ValuEngine raised Puma Biotechnology from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $13.00 price objective on shares of Puma Biotechnology in a report on Monday, August 12th. Finally, BidaskClub raised Puma Biotechnology from a “sell” rating to a “hold” rating in a report on Tuesday.
In other news, insider Alan H. Auerbach sold 12,715 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $9.98, for a total transaction of $126,895.70. Following the completion of the sale, the insider now owns 4,189,525 shares in the company, valued at $41,811,459.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 14,299 shares of company stock valued at $146,360 in the last quarter. Insiders own 21.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology during the first quarter worth about $210,000. Pictet Asset Management Ltd. boosted its stake in shares of Puma Biotechnology by 53.3% during the first quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock worth $4,608,000 after buying an additional 41,300 shares during the period. Norges Bank acquired a new stake in shares of Puma Biotechnology during the fourth quarter worth about $13,719,000. Spark Investment Management LLC boosted its stake in shares of Puma Biotechnology by 20.4% during the first quarter. Spark Investment Management LLC now owns 570,800 shares of the biopharmaceutical company’s stock worth $22,141,000 after buying an additional 96,700 shares during the period. Finally, Sivik Global Healthcare LLC acquired a new stake in shares of Puma Biotechnology during the first quarter worth about $1,552,000. Institutional investors and hedge funds own 81.41% of the company’s stock.
NASDAQ:PBYI traded down $0.05 during trading hours on Friday, hitting $9.38. The company’s stock had a trading volume of 1,560,600 shares, compared to its average volume of 1,748,518. The stock has a market capitalization of $364.88 million, a P/E ratio of -3.14 and a beta of 1.73. The stock has a fifty day moving average of $10.70 and a 200-day moving average of $23.08. The company has a current ratio of 1.72, a quick ratio of 2.50 and a debt-to-equity ratio of 5.39. Puma Biotechnology has a 52-week low of $8.45 and a 52-week high of $50.75.
Puma Biotechnology (NASDAQ:PBYI) last issued 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). The firm 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 254.09% and a negative net margin of 32.23%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.59) EPS. On average, sell-side analysts forecast that Puma Biotechnology will post -2.67 earnings per share for the current year.
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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