Puma Biotechnology (PBYI) Sets New 52-Week Low at $40.45

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Puma Biotechnology Inc (NASDAQ:PBYI) shares hit a new 52-week low during trading on Monday . The company traded as low as $40.45 and last traded at $41.70, with a volume of 12587 shares traded. The stock had previously closed at $41.90.

PBYI has been the subject of a number of recent research reports. Citigroup upped their price objective on Puma Biotechnology from $146.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, June 28th. Zacks Investment Research downgraded Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. JPMorgan Chase & Co. upped their price objective on Puma Biotechnology from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. BidaskClub downgraded Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Finally, ValuEngine downgraded Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.40.

The company has a debt-to-equity ratio of 3.14, a quick ratio of 2.64 and a current ratio of 2.68.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.26) by $0.09. The firm had revenue of $50.80 million during the quarter, compared to the consensus estimate of $45.67 million. Puma Biotechnology had a negative return on equity of 367.92% and a negative net margin of 146.27%. During the same period in the prior year, the business earned ($1.38) EPS. analysts predict that Puma Biotechnology Inc will post -3.86 EPS for the current year.

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 12,520 shares of the business’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $52.00, for a total transaction of $651,040.00. Following the completion of the transaction, the chief executive officer now owns 4,179,061 shares in the company, valued at approximately $217,311,172. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles R. Eyler sold 1,211 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $53.00, for a total value of $64,183.00. Following the transaction, the insider now owns 35,816 shares of the company’s stock, valued at approximately $1,898,248. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,567 shares of company stock valued at $810,603. 21.50% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in PBYI. Ladenburg Thalmann Financial Services Inc. boosted its position in Puma Biotechnology by 307.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 1,167 shares during the period. NumerixS Investment Technologies Inc acquired a new position in Puma Biotechnology during the 2nd quarter worth $141,000. Boston Advisors LLC acquired a new position in Puma Biotechnology during the 2nd quarter worth $262,000. Royal Bank of Canada boosted its position in Puma Biotechnology by 271.3% during the 1st quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 2,938 shares during the period. Finally, Marshall Wace LLP acquired a new position in Puma Biotechnology during the 2nd quarter worth $289,000.

About Puma Biotechnology (NASDAQ:PBYI)

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States. 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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