Pictet Asset Management Ltd. Has $4.61 Million Stock Position in Puma Biotechnology Inc (NASDAQ:PBYI)

Pictet Asset Management Ltd. grew its stake in Puma Biotechnology Inc (NASDAQ:PBYI) by 53.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,800 shares of the biopharmaceutical company’s stock after buying an additional 41,300 shares during the quarter. Pictet Asset Management Ltd. owned 0.31% of Puma Biotechnology worth $4,608,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Great Point Partners LLC purchased a new stake in Puma Biotechnology during the 4th quarter worth approximately $28,077,000. Millennium Management LLC grew its position in shares of Puma Biotechnology by 406.7% in the fourth quarter. Millennium Management LLC now owns 1,332,696 shares of the biopharmaceutical company’s stock valued at $27,120,000 after purchasing an additional 1,069,706 shares in the last quarter. Norges Bank purchased a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $13,719,000. Deutsche Bank AG grew its position in shares of Puma Biotechnology by 340.1% in the fourth quarter. Deutsche Bank AG now owns 497,035 shares of the biopharmaceutical company’s stock valued at $10,113,000 after purchasing an additional 384,099 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Puma Biotechnology by 16.6% in 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 purchasing an additional 308,479 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PBYI traded up $0.09 during midday trading on Monday, reaching $12.80. 652,180 shares of the company were exchanged, compared to its average volume of 1,135,150. The company has a current ratio of 2.53, a quick ratio of 2.50 and a debt-to-equity ratio of 4.08. Puma Biotechnology Inc has a 1 year low of $12.22 and a 1 year high of $60.95. The company’s fifty day moving average is $14.49. The company has a market capitalization of $494.23 million, a PE ratio of -4.28 and a beta of 0.98.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $67.25 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s revenue was up 49.0% compared to the same quarter last year. As a group, equities research analysts predict that Puma Biotechnology Inc will post -2.22 earnings per share for the current year.

Several research analysts recently weighed in on PBYI shares. JPMorgan Chase & Co. lowered their price objective on Puma Biotechnology from $27.00 to $19.00 and set an “underweight” rating for the company in a research report on Friday, May 10th. Cantor Fitzgerald lowered Puma Biotechnology from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $57.00 to $20.00 in a research report on Friday, May 10th. Goldman Sachs Group lowered their price objective 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. Cowen set a $27.00 price target on Puma Biotechnology and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Finally, Citigroup cut Puma Biotechnology from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research note on Friday, May 10th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Puma Biotechnology currently has an average rating of “Hold” and a consensus target price of $26.89.

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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Institutional Ownership by Quarter for Puma Biotechnology (NASDAQ:PBYI)

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