Puma Biotechnology Inc (PBYI) Downgraded by BidaskClub
Puma Biotechnology Inc (NYSE:PBYI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Several other equities analysts have also issued reports on PBYI. Credit Suisse Group restated an “outperform” rating and set a $58.00 target price on shares of Puma Biotechnology in a research report on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a report on Wednesday, April 19th. Royal Bank Of Canada set a $40.00 price objective on Puma Biotechnology and gave the company a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, May 16th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $109.56.
Puma Biotechnology (NYSE PBYI) traded up 2.11% during mid-day trading on Wednesday, reaching $82.25. 808,741 shares of the company’s stock were exchanged. The stock’s market cap is $3.04 billion. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $98.85. The stock has a 50-day moving average price of $88.09 and a 200-day moving average price of $57.55.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78. On average, analysts forecast that Puma Biotechnology will post ($8.62) earnings per share for the current year.
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In other news, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.48, for a total transaction of $188,771.04. Following the sale, the senior vice president now owns 27,246 shares in the company, valued at approximately $2,574,202.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the sale, the insider now owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,010,261 shares of company stock worth $159,425,452. Company insiders own 22.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Puma Biotechnology during the second quarter worth about $122,000. Cubist Systematic Strategies LLC bought a new stake in shares of Puma Biotechnology during the second quarter worth about $146,000. Bank of Montreal Can bought a new stake in shares of Puma Biotechnology during the first quarter worth about $195,000. Alambic Investment Management L.P. bought a new stake in shares of Puma Biotechnology during the first quarter worth about $201,000. Finally, Kazazian Asset Management LLC bought a new stake in shares of Puma Biotechnology during the second quarter worth about $209,000. Institutional investors own 80.98% of the company’s stock.
About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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