Puma Biotechnology (PBYI) Earns Market Perform Rating from Analysts at Leerink Swann

Leerink Swann began coverage on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $21.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald increased their price target on Puma Biotechnology to $55.00 in a research note on Tuesday, December 18th. Royal Bank of Canada raised their target price on Puma Biotechnology to $26.00 and gave the company a sector perform rating in a research note on Thursday, December 6th. BidaskClub cut Puma Biotechnology from a sell rating to a strong sell rating in a research note on Thursday, September 20th. ValuEngine raised Puma Biotechnology from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut Puma Biotechnology from a buy rating to a hold rating in a research note on Wednesday, November 14th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Puma Biotechnology has a consensus rating of Hold and a consensus target price of $63.42.

Shares of NASDAQ:PBYI traded down $0.25 on Thursday, hitting $25.22. The company’s stock had a trading volume of 769,132 shares, compared to its average volume of 1,012,775. Puma Biotechnology has a 12 month low of $17.60 and a 12 month high of $95.05. The company has a debt-to-equity ratio of 2.64, a current ratio of 3.01 and a quick ratio of 2.96.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.60. Puma Biotechnology had a negative return on equity of 301.41% and a negative net margin of 73.45%. The company had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.94 million. During the same quarter in the prior year, the business posted ($1.36) earnings per share. The company’s revenue for the quarter was up 926.2% compared to the same quarter last year. Analysts forecast that Puma Biotechnology will post -3.17 earnings per share for the current year.

In related news, insider Charles R. Eyler sold 1,239 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $22.77, for a total transaction of $28,212.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan H. Auerbach sold 4,424 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $20.67, for a total value of $91,444.08. Following the transaction, the insider now directly owns 31,333 shares of the company’s stock, valued at approximately $647,653.11. The disclosure for this sale can be found here. Company insiders own 21.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its holdings in shares of Puma Biotechnology by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 160,394 shares of the biopharmaceutical company’s stock valued at $9,488,000 after purchasing an additional 9,813 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Puma Biotechnology by 5.7% during the second quarter. BlackRock Inc. now owns 2,505,710 shares of the biopharmaceutical company’s stock valued at $148,211,000 after purchasing an additional 135,996 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Puma Biotechnology by 75.2% during the second quarter. Raymond James & Associates now owns 7,693 shares of the biopharmaceutical company’s stock valued at $455,000 after purchasing an additional 3,303 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Puma Biotechnology during the second quarter valued at $289,000. Finally, Millennium Management LLC lifted its holdings in shares of Puma Biotechnology by 168.7% during the second quarter. Millennium Management LLC now owns 546,630 shares of the biopharmaceutical company’s stock valued at $32,333,000 after purchasing an additional 343,180 shares during the last quarter. 91.63% of the stock is owned by institutional investors and hedge funds.

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. 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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