Shares of Puma Biotechnology Inc (NASDAQ:PBYI) have been given an average rating of “Hold” by the twelve brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $104.67.
Several equities analysts have recently commented on the stock. Cowen reissued a “hold” rating and issued a $80.00 target price on shares of Puma Biotechnology in a report on Friday, August 10th. ValuEngine downgraded shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. BidaskClub downgraded shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 15th. Finally, Credit Suisse Group set a $106.00 target price on shares of Puma Biotechnology and gave the stock a “buy” rating in a report on Monday, May 7th.
In related news, insider Richard Paul Bryce sold 1,836 shares of the company’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $51.95, for a total transaction of $95,380.20. Following the sale, the insider now owns 32,543 shares of the company’s stock, valued at $1,690,608.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Alan H. Auerbach sold 12,520 shares of the company’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $52.00, for a total transaction of $651,040.00. Following the sale, the chief executive officer now directly owns 4,179,061 shares in the company, valued at approximately $217,311,172. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,567 shares of company stock worth $810,603. 21.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in PBYI. Point72 Asset Management L.P. raised its stake in Puma Biotechnology by 391.1% during the first quarter. Point72 Asset Management L.P. now owns 1,281,117 shares of the biopharmaceutical company’s stock valued at $87,180,000 after purchasing an additional 1,020,265 shares in the last quarter. venBio Select Advisor LLC bought a new position in Puma Biotechnology during the first quarter valued at $56,166,000. Macquarie Group Ltd. bought a new position in Puma Biotechnology during the second quarter valued at $27,964,000. Jennison Associates LLC increased its position in Puma Biotechnology by 95.9% during the second quarter. Jennison Associates LLC now owns 950,998 shares of the biopharmaceutical company’s stock valued at $56,252,000 after acquiring an additional 465,453 shares during the last quarter. Finally, Millennium Management LLC increased its position in Puma Biotechnology by 168.7% during the second quarter. Millennium Management LLC now owns 546,630 shares of the biopharmaceutical company’s stock valued at $32,333,000 after acquiring an additional 343,180 shares during the last quarter.
Shares of PBYI stock traded up $2.05 during mid-day trading on Friday, hitting $43.75. The company had a trading volume of 58,680 shares, compared to its average volume of 939,110. Puma Biotechnology has a 52-week low of $40.45 and a 52-week high of $136.90. The company has a debt-to-equity ratio of 3.14, a quick ratio of 2.64 and a current ratio of 2.68. The company has a market capitalization of $1.58 billion, a PE ratio of -5.59 and a beta of -0.10.
Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.09. Puma Biotechnology had a negative net margin of 146.27% and a negative return on equity of 367.92%. The firm had revenue of $50.80 million for the quarter, compared to the consensus estimate of $45.67 million. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. research analysts predict that Puma Biotechnology will post -3.86 EPS for the current fiscal year.
Puma Biotechnology Company Profile
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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