Puma Biotechnology (PBYI) Downgraded by BidaskClub

Puma Biotechnology (NASDAQ:PBYI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also issued reports on PBYI. Cowen lowered shares of Puma Biotechnology from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $123.00 to $68.00 in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and issued a $106.00 target price (down from $147.00) on shares of Puma Biotechnology in a report on Wednesday. Bank of America reduced their target price on shares of Puma Biotechnology from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup reduced their target price on shares of Puma Biotechnology from $164.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Puma Biotechnology from $138.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $110.56.

Puma Biotechnology (NASDAQ:PBYI) traded up $0.60 during trading on Friday, hitting $68.70. 1,262,627 shares of the company traded hands, compared to its average volume of 1,108,942. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $136.90. The stock has a market cap of $2,555.76, a price-to-earnings ratio of -8.40 and a beta of 0.72.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the consensus estimate of ($2.50) by $0.43. The business had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $3.78 million. During the same quarter in the prior year, the firm earned ($1.11) earnings per share. equities analysts anticipate that Puma Biotechnology will post -8.16 earnings per share for the current year.

In other news, SVP Richard Paul Bryce sold 1,860 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $92.75, for a total transaction of $172,515.00. Following the completion of the transaction, the senior vice president now owns 25,379 shares of the company’s stock, valued at approximately $2,353,902.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charles R. Eyler sold 1,322 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $105.46, for a total transaction of $139,418.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,874 shares of company stock worth $1,303,616. 21.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PBYI. Janus Henderson Group PLC acquired a new position in shares of Puma Biotechnology during the 2nd quarter valued at about $162,302,000. Point72 Asset Management L.P. increased its stake in shares of Puma Biotechnology by 265.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after acquiring an additional 350,300 shares during the last quarter. Perceptive Advisors LLC increased its stake in shares of Puma Biotechnology by 26.0% during the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock valued at $110,627,000 after acquiring an additional 190,500 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Puma Biotechnology during the 3rd quarter valued at about $10,563,000. Finally, BlackRock Inc. increased its stake in shares of Puma Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after acquiring an additional 86,924 shares during the last quarter. 95.86% of the stock is owned by institutional investors.

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Puma Biotechnology Company Profile

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.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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