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

Puma Biotechnology (NASDAQ:PBYI) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings downgraded shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Puma Biotechnology Stock Performance

Shares of NASDAQ:PBYI opened at $6.92 on Friday. The business has a 50 day moving average of $6.87 and a two-hundred day moving average of $6.27. The company has a market capitalization of $352.23 million, a PE ratio of 14.42 and a beta of 1.24. Puma Biotechnology has a 12-month low of $3.03 and a 12-month high of $7.90.

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

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake 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 lifted its position in shares of 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 acquiring an additional 223,234 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Puma Biotechnology during the second quarter valued at about $329,000. Bridgeway Capital Management LLC lifted its holdings in shares of Puma Biotechnology by 150.0% in the second quarter. Bridgeway Capital Management LLC now owns 202,790 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 121,690 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Puma Biotechnology in the second quarter valued at $135,000. Institutional investors and hedge funds own 61.29% of the company’s stock.

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.