Puma Biotechnology (NASDAQ:PBYI) Trading Down 3.3%

Puma Biotechnology Inc (NASDAQ:PBYI)’s share price traded down 3.3% on Wednesday . The company traded as low as $9.25 and last traded at $9.04, 36,813 shares were traded during trading. A decline of 98% from the average session volume of 1,564,333 shares. The stock had previously closed at $9.35.

PBYI has been the topic of several recent research reports. BidaskClub raised Puma Biotechnology from a “strong sell” rating to a “sell” rating in a report on Thursday, November 21st. Cantor Fitzgerald cut their price target on Puma Biotechnology from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Goldman Sachs Group cut Puma Biotechnology from a “neutral” rating to a “sell” rating and reduced their price target for the company from $24.00 to $8.00 in a research report on Tuesday, October 8th. Cowen reiterated a “hold” rating and set a $25.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 9th. Finally, Barclays dropped their price objective on Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Puma Biotechnology has an average rating of “Hold” and a consensus price target of $14.13.

The company’s 50 day simple moving average is $7.97 and its 200-day simple moving average is $10.77. The company has a debt-to-equity ratio of 6.84, a quick ratio of 1.67 and a current ratio of 1.71. The firm has a market capitalization of $369.74 million, a PE ratio of -2.94 and a beta of 1.68.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.32. The firm had revenue of $56.40 million during the quarter, compared to analyst estimates of $60.21 million. Puma Biotechnology had a negative net margin of 33.90% and a negative return on equity of 325.89%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. On average, equities research analysts forecast that Puma Biotechnology Inc will post -2.15 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Swiss National Bank increased its position in shares of Puma Biotechnology by 2.0% during the second quarter. Swiss National Bank now owns 56,730 shares of the biopharmaceutical company’s stock valued at $722,000 after acquiring an additional 1,100 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Puma Biotechnology by 14.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,615 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,305 shares during the period. Northern Trust Corp grew its holdings in shares of Puma Biotechnology by 0.4% in the 2nd quarter. Northern Trust Corp now owns 356,356 shares of the biopharmaceutical company’s stock worth $4,530,000 after acquiring an additional 1,477 shares during the period. Bank of Montreal Can increased its stake in Puma Biotechnology by 577.6% in the 2nd quarter. Bank of Montreal Can now owns 2,602 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 2,218 shares in the last quarter. Finally, BB&T Securities LLC raised its holdings in Puma Biotechnology by 22.9% during the second quarter. BB&T Securities LLC now owns 13,397 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 2,499 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Puma Biotechnology Company Profile (NASDAQ:PBYI)

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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