Puma Biotechnology (NASDAQ:PBYI) Downgraded to “Strong Sell” at BidaskClub

Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

PBYI has been the topic of several other reports. Goldman Sachs Group raised Koninklijke KPN from a “neutral” rating to a “buy” rating in a report on Wednesday, May 29th. Cantor Fitzgerald set a $8.00 price target on BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. set a €52.00 ($60.47) price target on Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. 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 reaffirmed a “buy” rating on shares of Healthequity in a research note on Friday, May 10th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Puma Biotechnology currently has a consensus rating of “Hold” and an average target price of $27.00.

Puma Biotechnology stock traded down $0.35 during midday trading on Friday, hitting $10.20. 1,100,479 shares of the company were exchanged, compared to its average volume of 1,306,817. The company has a market cap of $393.84 million, a price-to-earnings ratio of -3.41 and a beta of 0.97. Puma Biotechnology has a fifty-two week low of $10.15 and a fifty-two week high of $54.20. The stock’s fifty day simple moving average is $12.98. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.53 and a quick ratio of 2.50.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.43. Puma Biotechnology had a negative return on equity of 245.22% and a negative net margin of 35.01%. The firm had revenue of $99.10 million for the quarter, compared to analyst estimates of $67.25 million. During the same period last year, the company earned $0.03 earnings per share. Puma Biotechnology’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities research analysts expect that Puma Biotechnology will post -2.49 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Puma Biotechnology during the first quarter worth approximately $210,000. Tibra Equities Europe Ltd purchased a new stake in Puma Biotechnology in the fourth quarter valued at $309,000. Capital Impact Advisors LLC raised its position in Puma Biotechnology by 88.4% in the fourth quarter. Capital Impact Advisors LLC now owns 73,876 shares of the biopharmaceutical company’s stock valued at $1,558,000 after purchasing an additional 34,667 shares during the period. Pictet Asset Management Ltd. raised its position in Puma Biotechnology by 53.3% in the first quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock valued at $4,608,000 after purchasing an additional 41,300 shares during the period. Finally, Norges Bank purchased a new stake in Puma Biotechnology in the fourth quarter valued at $13,719,000. Hedge funds and other 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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