Puma Biotechnology (NASDAQ:PBYI) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a sell rating in a report published on Monday morning, BidAskClub reports.

Several other brokerages have also weighed in on PBYI. Zacks Investment Research lowered Puma Biotechnology from a buy rating to a hold rating in a research report on Wednesday, May 1st. Cantor Fitzgerald downgraded Puma Biotechnology from an overweight rating to a neutral rating and lowered their price target for the company from $57.00 to $20.00 in a report on Friday, May 10th. ValuEngine upgraded Puma Biotechnology from a sell rating to a hold rating in a report on Thursday, August 1st. Goldman Sachs Group lowered their price target on Puma Biotechnology from $29.00 to $24.00 and set a neutral rating for the company in a report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Cowen reiterated a hold rating and issued a $25.00 price target on shares of Puma Biotechnology in a report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $22.56.

Shares of PBYI opened at $10.96 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 5.39. The firm has a market capitalization of $419.34 million, a P/E ratio of -3.67 and a beta of 1.73. The stock’s fifty day simple moving average is $10.43 and its 200 day simple moving average is $22.71. Puma Biotechnology has a twelve month low of $8.45 and a twelve month high of $50.75.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.07). The firm had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $53.40 million. Puma Biotechnology had a negative return on equity of 254.09% and a negative net margin of 32.23%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted ($0.59) earnings per share. Sell-side analysts predict that Puma Biotechnology will post -2.67 earnings per share for the current year.

In related news, insider Alan H. Auerbach sold 12,715 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $9.98, for a total value of $126,895.70. Following the completion of the sale, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 14,299 shares of company stock valued at $146,360. 21.80% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology during the first quarter valued at about $210,000. Pictet Asset Management Ltd. grew its stake in shares of Puma Biotechnology by 53.3% during the first quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock valued at $4,608,000 after acquiring an additional 41,300 shares in the last quarter. Norges Bank acquired a new stake in shares of Puma Biotechnology during the fourth quarter valued at about $13,719,000. Spark Investment Management LLC grew its stake in shares of Puma Biotechnology by 20.4% during the first quarter. Spark Investment Management LLC now owns 570,800 shares of the biopharmaceutical company’s stock valued at $22,141,000 after acquiring an additional 96,700 shares in the last quarter. Finally, Sivik Global Healthcare LLC acquired a new stake in shares of Puma Biotechnology during the first quarter valued at about $1,552,000. Institutional investors own 83.15% 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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