Puma Biotechnology (NASDAQ:PBYI) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a research note released on Saturday.

Separately, Weiss Ratings lowered shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Puma Biotechnology Stock Down 3.8%

NASDAQ:PBYI opened at $6.92 on Friday. The company has a market cap of $352.23 million, a P/E ratio of 14.42 and a beta of 1.24. Puma Biotechnology has a fifty-two week low of $3.03 and a fifty-two week high of $7.90. The firm’s 50 day moving average is $6.87 and its two-hundred day moving average is $6.26.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. The company had revenue of $44.81 million for the quarter, compared to the consensus estimate of $42.00 million. Research analysts forecast that Puma Biotechnology will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Puma Biotechnology by 405.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,508 shares of the biopharmaceutical company’s stock valued at $1,054,000 after purchasing an additional 159,200 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Puma Biotechnology by 47.4% during the 4th quarter. Ritholtz Wealth Management now owns 694,001 shares of the biopharmaceutical company’s stock valued at $4,129,000 after purchasing an additional 223,234 shares in the last quarter. CWM LLC grew its holdings in Puma Biotechnology by 43.6% during the 4th quarter. CWM LLC now owns 12,813 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 3,893 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in Puma Biotechnology during the 4th quarter valued at $115,000. Finally, State of Alaska Department of Revenue acquired a new stake in Puma Biotechnology during the 4th quarter valued at $50,000. 61.29% of the stock is owned by institutional investors and hedge funds.

About Puma Biotechnology

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.