Fmr LLC boosted its stake in shares of Puma Biotechnology Inc (NASDAQ:PBYI) by 8.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,720,294 shares of the biopharmaceutical company’s stock after purchasing an additional 132,205 shares during the quarter. Fmr LLC owned about 4.52% of Puma Biotechnology worth $101,756,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Puma Biotechnology by 307.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 1,167 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Puma Biotechnology during the second quarter worth approximately $141,000. Boston Advisors LLC acquired a new position in shares of Puma Biotechnology during the second quarter worth approximately $262,000. Royal Bank of Canada lifted its holdings in shares of Puma Biotechnology by 271.3% during the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 2,938 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Puma Biotechnology during the second quarter worth approximately $289,000. 92.66% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PBYI opened at $23.37 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 3.01 and a quick ratio of 2.64. The firm has a market capitalization of $854.22 million, a P/E ratio of -2.98 and a beta of 0.42. Puma Biotechnology Inc has a one year low of $17.60 and a one year high of $117.00.
Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.60. The business had revenue of $62.60 million during the quarter, compared to analyst estimates of $57.94 million. Puma Biotechnology had a negative return on equity of 301.41% and a negative net margin of 73.45%. Puma Biotechnology’s revenue was up 926.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.36) earnings per share. Equities analysts anticipate that Puma Biotechnology Inc will post -3.4 EPS for the current year.
A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Puma Biotechnology from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $83.00 to $23.00 in a report on Friday, November 2nd. Bank of America lowered Puma Biotechnology from a “buy” rating to an “underperform” rating in a report on Friday, November 2nd. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price target (down from $75.00) on shares of Puma Biotechnology in a report on Friday, November 2nd. Barclays lowered Puma Biotechnology from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $72.00 to $29.00 in a report on Friday, November 2nd. Finally, Cowen set a $68.00 price target on Puma Biotechnology and gave the stock a “hold” rating in a report on Friday, November 2nd. Six investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $72.45.
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About Puma Biotechnology
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States. 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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