Puma Biotechnology (NASDAQ:PBYI) Upgraded at BidaskClub

BidaskClub upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a sell rating to a hold rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other research analysts have also recently issued reports on the company. Barclays lowered their price objective on Puma Biotechnology from $21.00 to $9.00 and set an underweight rating for the company in a research note on Friday, August 9th. Zacks Investment Research cut Puma Biotechnology from a buy rating to a hold rating in a research note on Wednesday, May 1st. Citigroup cut Puma Biotechnology from a buy rating to a neutral rating and set a $24.00 price objective for the company. in a research note on Friday, May 10th. Cantor Fitzgerald cut Puma Biotechnology from an overweight rating to a neutral rating and lowered their price objective for the company from $57.00 to $20.00 in a research note on Friday, May 10th. Finally, ValuEngine upgraded Puma Biotechnology from a sell rating to a hold rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Puma Biotechnology presently has a consensus rating of Hold and an average target price of $22.56.

PBYI opened at $9.43 on Tuesday. The stock has a market cap of $430.98 million, a PE ratio of -3.15 and a beta of 1.73. The company has a quick ratio of 2.50, a current ratio of 1.72 and a debt-to-equity ratio of 5.39. The business has a 50 day moving average of $10.76 and a 200-day moving average of $23.15. Puma Biotechnology has a 52 week low of $8.45 and a 52 week high of $50.75.

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 Zacks’ consensus estimate of ($0.90) by ($0.07). The company had revenue of $53.90 million for the quarter, compared to analysts’ expectations of $53.40 million. Puma Biotechnology had a negative net margin of 32.23% and a negative return on equity of 254.09%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.59) EPS. Equities analysts anticipate that Puma Biotechnology will post -2.81 EPS for the current year.

In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of Puma Biotechnology stock in a transaction 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 completion of the sale, the insider now owns 4,189,525 shares of the company’s stock, valued at approximately $41,811,459.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 14,299 shares of company stock valued at $146,360. Corporate insiders own 21.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Puma Biotechnology by 577.6% in the 2nd quarter. Bank of Montreal Can now owns 2,602 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 2,218 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth $56,000. SG Americas Securities LLC bought a new stake in shares of Puma Biotechnology in the 1st quarter worth $210,000. Stephens Inc. AR bought a new stake in shares of Puma Biotechnology in the 1st quarter worth $240,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Puma Biotechnology by 28.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,477 shares of the biopharmaceutical company’s stock worth $251,000 after purchasing an additional 1,454 shares in the last quarter. 81.41% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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