Puma Biotechnology (NASDAQ:PBYI – Get Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Puma Biotechnology in a report on Wednesday, September 20th.
Puma Biotechnology Price Performance
Shares of PBYI stock opened at $4.39 on Thursday. The company has a market capitalization of $208.83 million, a PE ratio of 54.88, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. The firm has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $3.40. The company has a current ratio of 1.86, a quick ratio of 1.78 and a debt-to-equity ratio of 1.98. Puma Biotechnology has a twelve month low of $2.13 and a twelve month high of $4.89.
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $56.10 million for the quarter, compared to analysts’ expectations of $57.30 million. Puma Biotechnology had a net margin of 1.61% and a return on equity of 12.69%. Equities research analysts anticipate that Puma Biotechnology will post 0.52 earnings per share for the current fiscal year.
Insider Activity at Puma Biotechnology
In related news, Director Michael Patrick Miller sold 25,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $2.83, for a total value of $70,750.00. Following the completion of the transaction, the director now owns 43,358 shares in the company, valued at approximately $122,703.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Puma Biotechnology
Several large investors have recently made changes to their positions in the business. Panagora Asset Management Inc. lifted its position in shares of Puma Biotechnology by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 205,138 shares of the biopharmaceutical company’s stock worth $591,000 after purchasing an additional 7,066 shares in the last quarter. BlackRock Inc. lifted its position in shares of Puma Biotechnology by 5.5% in the first quarter. BlackRock Inc. now owns 3,379,684 shares of the biopharmaceutical company’s stock worth $9,733,000 after purchasing an additional 175,447 shares in the last quarter. Mackenzie Financial Corp bought a new position in Puma Biotechnology during the first quarter valued at approximately $35,000. Federated Hermes Inc. raised its position in Puma Biotechnology by 10.9% during the first quarter. Federated Hermes Inc. now owns 340,459 shares of the biopharmaceutical company’s stock valued at $981,000 after acquiring an additional 33,342 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Puma Biotechnology by 4.8% during the first quarter. Prudential Financial Inc. now owns 186,936 shares of the biopharmaceutical company’s stock valued at $539,000 after acquiring an additional 8,500 shares in the last quarter. Institutional investors own 55.97% of the company’s stock.
Puma Biotechnology Company Profile
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company’s drug candidates include PB272 (neratinib, oral), for the patients with early stage HER2-overexpressed/amplified breast cancer; for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; and for HER2 mutation-positive solid tumors.