BidaskClub Lowers Puma Biotechnology (NASDAQ:PBYI) to Sell

BidaskClub cut shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a sell rating in a research report sent to investors on Monday morning, BidAskClub reports.

Several other analysts also recently weighed in on PBYI. JPMorgan Chase & Co. reissued a sell rating and issued a $13.00 target price on shares of Puma Biotechnology in a report on Monday, August 12th. Zacks Investment Research downgraded Puma Biotechnology from a buy rating to a hold rating in a research note on Wednesday, May 1st. Citigroup set a $13.00 price objective on Puma Biotechnology and gave the company a hold rating in a research note on Monday, August 12th. Cantor Fitzgerald downgraded Puma Biotechnology from an overweight rating to a neutral rating and reduced their price objective for the company from $57.00 to $20.00 in a research note on Friday, May 10th. Finally, Goldman Sachs Group reduced their price objective on Puma Biotechnology from $29.00 to $24.00 and set a neutral rating for the company in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company presently has an average rating of Hold and an average target price of $22.56.

Puma Biotechnology stock opened at $10.96 on Monday. Puma Biotechnology has a fifty-two week low of $8.45 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 5.39, a quick ratio of 1.68 and a current ratio of 1.72. The company has a market capitalization of $419.34 million, a P/E ratio of -3.67 and a beta of 1.73. The stock has a 50-day simple moving average of $10.43 and a 200-day simple moving average of $22.71.



Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.07). Puma Biotechnology had a negative net margin of 32.23% and a negative return on equity of 254.09%. The firm had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $53.40 million. During the same period in the previous year, the firm posted ($0.59) earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts forecast that Puma Biotechnology will post -2.67 earnings per share for the current year.

In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $9.98, for a total transaction of $126,895.70. Following the completion of the sale, the insider now directly owns 4,189,525 shares of the company’s stock, valued at approximately $41,811,459.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 14,299 shares of company stock valued at $146,360. 21.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Puma Biotechnology by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,065,679 shares of the biopharmaceutical company’s stock worth $38,964,000 after purchasing an additional 118,785 shares during the period. Janus Henderson Group PLC increased its position in Puma Biotechnology by 16.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,170,423 shares of the biopharmaceutical company’s stock worth $84,191,000 after purchasing an additional 308,479 shares during the period. Norges Bank acquired a new position in Puma Biotechnology during the 4th quarter worth approximately $13,719,000. Nuveen Asset Management LLC acquired a new position in Puma Biotechnology during the 2nd quarter worth approximately $7,716,000. Finally, Rice Hall James & Associates LLC increased its position in Puma Biotechnology by 24.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 578,551 shares of the biopharmaceutical company’s stock worth $22,442,000 after purchasing an additional 112,241 shares during the period. Institutional investors own 83.15% 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).

Featured Story: What are retained earnings?

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.