Puma Biotechnology (PBYI) Cut to “Strong Sell” at BidaskClub

Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

PBYI has been the topic of a number of other research reports. Cowen restated a “hold” rating and issued a $80.00 price target on shares of Puma Biotechnology in a report on Friday, August 10th. ValuEngine cut Puma Biotechnology from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, May 7th. Credit Suisse Group set a $106.00 target price on Puma Biotechnology and gave the company a “buy” rating in a report on Monday, May 7th. Finally, Citigroup increased their target price on Puma Biotechnology from $146.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Puma Biotechnology has an average rating of “Hold” and a consensus target price of $101.40.

PBYI opened at $44.85 on Wednesday. The company has a market capitalization of $1.70 billion, a P/E ratio of -5.71 and a beta of -0.10. 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 has a 1-year low of $41.30 and a 1-year high of $136.90.



Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.09. The business had revenue of $50.80 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($1.38) EPS. equities research analysts forecast that Puma Biotechnology will post -3.68 earnings per share for the current fiscal year.

In other news, insider Charles R. Eyler sold 1,211 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $53.00, for a total transaction of $64,183.00. Following the sale, the insider now owns 35,816 shares in the company, valued at $1,898,248. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alan H. Auerbach sold 12,520 shares of the firm’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $52.00, for a total value of $651,040.00. Following the sale, the chief executive officer now 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 quarter, insiders have sold 15,567 shares of company stock worth $810,603. 21.50% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of PBYI. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Puma Biotechnology by 307.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 1,167 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Puma Biotechnology during the second quarter worth $141,000. Boston Advisors LLC acquired a new stake in shares of Puma Biotechnology during the second quarter worth $262,000. Royal Bank of Canada boosted its holdings in shares of Puma Biotechnology by 271.3% during the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Puma Biotechnology during the second quarter worth $289,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Puma Biotechnology

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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