Puma Biotechnology (NASDAQ:PBYI) Given a $27.00 Price Target at Cowen

Puma Biotechnology (NASDAQ:PBYI) has been assigned a $27.00 target price by research analysts at Cowen in a research report issued on Wednesday, June 5th, TipRanks reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Cowen’s target price would indicate a potential upside of 112.43% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Citigroup boosted their price objective on Puma Biotechnology from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Cantor Fitzgerald restated a “buy” rating and issued a $57.00 target price on shares of Puma Biotechnology in a research report on Thursday, February 28th. Zacks Investment Research downgraded Puma Biotechnology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Goldman Sachs Group cut their target price on Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of Puma Biotechnology in a research report on Monday, April 1st. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Puma Biotechnology presently has a consensus rating of “Hold” and a consensus target price of $26.89.

Shares of NASDAQ:PBYI remained flat at $$12.71 during trading on Wednesday. The stock had a trading volume of 1,760,404 shares, compared to its average volume of 1,319,763. The company has a market cap of $490.76 million, a P/E ratio of -4.25 and a beta of 1.14. The stock has a 50 day moving average price of $14.84. Puma Biotechnology has a 52 week low of $12.22 and a 52 week high of $60.95. The company has a quick ratio of 2.50, a current ratio of 2.53 and a debt-to-equity ratio of 4.08.

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

Large investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc increased its stake in shares of Puma Biotechnology by 969.5% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,139 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 1,939 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Puma Biotechnology in the fourth quarter worth $61,000. SG Americas Securities LLC bought a new stake in Puma Biotechnology in the first quarter worth $210,000. Quantamental Technologies LLC bought a new stake in Puma Biotechnology in the fourth quarter worth $112,000. Finally, Stephens Inc. AR bought a new stake in Puma Biotechnology in the first quarter worth $240,000. Institutional investors own 86.74% 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. 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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