Puma Biotechnology Target of Unusually High Options Trading (PBYI)

Puma Biotechnology Inc (NASDAQ:PBYI) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 2,746 put options on the company. This represents an increase of approximately 2,566% compared to the typical volume of 103 put options.

Shares of Puma Biotechnology stock traded down $0.03 on Thursday, hitting $15.10. The stock had a trading volume of 616,900 shares, compared to its average volume of 1,095,356. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.50 and a current ratio of 2.53. Puma Biotechnology has a one year low of $14.85 and a one year high of $65.45. The stock has a market capitalization of $584.59 million, a price-to-earnings ratio of -5.05 and a beta of 0.57.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.43. Puma Biotechnology had a negative net margin of 35.01% and a negative return on equity of 245.22%. The firm had revenue of $99.10 million for the quarter, compared to analysts’ expectations of $67.25 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 49.0% on a year-over-year basis. As a group, equities research analysts forecast that Puma Biotechnology will post -2.22 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its position in Puma Biotechnology by 3.1% during the third quarter. Vanguard Group Inc now owns 2,819,118 shares of the biopharmaceutical company’s stock valued at $129,257,000 after buying an additional 85,319 shares during the period. Vanguard Group Inc. lifted its position in Puma Biotechnology by 3.1% during the third quarter. Vanguard Group Inc. now owns 2,819,118 shares of the biopharmaceutical company’s stock valued at $129,257,000 after buying an additional 85,319 shares during the period. BlackRock Inc. lifted its position in Puma Biotechnology by 1.6% during the fourth quarter. BlackRock Inc. now owns 2,665,886 shares of the biopharmaceutical company’s stock valued at $54,250,000 after buying an additional 41,785 shares during the period. Janus Henderson Group PLC lifted its position in Puma Biotechnology by 16.6% during the first quarter. Janus Henderson Group PLC now owns 2,170,423 shares of the biopharmaceutical company’s stock valued at $84,191,000 after buying an additional 308,479 shares during the period. Finally, Great Point Partners LLC purchased a new position in Puma Biotechnology during the fourth quarter valued at $28,077,000. Institutional investors and hedge funds own 86.80% of the company’s stock.

A number of brokerages have weighed in on PBYI. Goldman Sachs Group cut their target price on shares of Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered their price target on shares of Puma Biotechnology from $27.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. Citigroup downgraded shares of Puma Biotechnology from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research note on Friday, May 10th. Cantor Fitzgerald downgraded shares of Puma Biotechnology from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $20.00 in a research note on Friday, May 10th. Finally, Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.44.

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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).

Further Reading: Liquidity

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