Puma Biotechnology Inc (NYSE:PBYI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages also recently weighed in on PBYI. Credit Suisse Group restated an “outperform” rating and set a $58.00 price objective on shares of Puma Biotechnology in a research report on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Royal Bank Of Canada set a $40.00 price objective on shares of Puma Biotechnology and gave the company a “hold” rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, May 16th. Finally, Citigroup Inc. restated a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $109.56.
Puma Biotechnology (PBYI) traded up 0.06% during midday trading on Wednesday, hitting $80.60. 265,741 shares of the company were exchanged. The stock’s market capitalization is $2.98 billion. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $98.85. The stock has a 50 day moving average of $88.17 and a 200-day moving average of $57.37.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.78. Equities analysts expect that Puma Biotechnology will post ($8.62) earnings per share for the current year.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total value of $1,248,067.75. Following the transaction, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $87.84, for a total transaction of $44,546,123.52. The disclosure for this sale can be found here. Insiders sold 2,010,261 shares of company stock worth $159,425,452 over the last quarter. Insiders own 22.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Puma Biotechnology by 2.4% in the first quarter. FMR LLC now owns 3,540,729 shares of the biopharmaceutical company’s stock valued at $131,715,000 after buying an additional 81,410 shares during the last quarter. Wellington Management Group LLP increased its position in Puma Biotechnology by 7.2% in the first quarter. Wellington Management Group LLP now owns 2,539,350 shares of the biopharmaceutical company’s stock valued at $94,464,000 after buying an additional 170,812 shares during the last quarter. Vanguard Group Inc. increased its position in Puma Biotechnology by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock valued at $216,284,000 after buying an additional 45,735 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Puma Biotechnology during the second quarter valued at $162,302,000. Finally, BlackRock Inc. increased its position in Puma Biotechnology by 5.0% in the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after buying an additional 86,924 shares during the last quarter. Institutional investors and hedge funds 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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