Puma Biotechnology (NASDAQ:PBYI) Stock Rating Upgraded by BidaskClub

Puma Biotechnology (NASDAQ:PBYI) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages have also weighed in on PBYI. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Puma Biotechnology in a research report on Friday, August 9th. Barclays cut their target price on shares of Puma Biotechnology from $21.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. Citigroup lowered shares of Puma Biotechnology from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Friday, May 10th. ValuEngine upgraded shares of Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald lowered shares of Puma Biotechnology from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $57.00 to $20.00 in a research report on Friday, May 10th. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Puma Biotechnology currently has an average rating of “Hold” and an average target price of $22.56.

NASDAQ PBYI opened at $10.14 on Tuesday. Puma Biotechnology has a 52-week low of $8.45 and a 52-week high of $50.75. The stock’s 50-day moving average is $10.82. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.53 and a quick ratio of 2.50. The stock has a market capitalization of $431.37 million, a P/E ratio of -3.39 and a beta of 1.73.



Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.07). Puma Biotechnology had a negative return on equity of 224.11% and a negative net margin of 32.23%. The company had revenue of $53.90 million for the quarter, compared to analysts’ expectations of $53.40 million. During the same quarter last year, the business posted ($0.59) EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that Puma Biotechnology will post -2.48 earnings per share for the current fiscal year.

In other news, insider Alan H. Auerbach sold 12,715 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $9.98, for a total value of $126,895.70. Following the completion of the transaction, the insider now directly owns 4,189,525 shares in the company, valued at $41,811,459.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 14,299 shares of company stock valued at $146,360 in the last quarter. Company insiders own 21.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology in the first quarter valued at approximately $210,000. Pictet Asset Management Ltd. boosted its position in shares of Puma Biotechnology by 53.3% in the first quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock valued at $4,608,000 after acquiring an additional 41,300 shares during the period. Norges Bank bought a new position in shares of Puma Biotechnology in the fourth quarter valued at approximately $13,719,000. Spark Investment Management LLC boosted its position in shares of Puma Biotechnology by 20.4% in the first quarter. Spark Investment Management LLC now owns 570,800 shares of the biopharmaceutical company’s stock valued at $22,141,000 after acquiring an additional 96,700 shares during the period. Finally, Sivik Global Healthcare LLC bought a new position in shares of Puma Biotechnology in the first quarter valued at approximately $1,552,000. Institutional investors own 81.41% of the company’s stock.

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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