Shares of Puma Biotechnology Inc (NASDAQ:PBYI) were down 0.9% during mid-day trading on Wednesday . The stock traded as low as $39.95 and last traded at $39.77. Approximately 15,428 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,724,492 shares. The stock had previously closed at $40.14.
Several analysts have recently issued reports on PBYI shares. Royal Bank of Canada lifted their target price on shares of Puma Biotechnology to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, December 6th. Cantor Fitzgerald lifted their target price on shares of Puma Biotechnology to $55.00 in a research report on Tuesday, December 18th. Guggenheim lowered shares of Puma Biotechnology from a “buy” rating to a “neutral” rating in a research report on Thursday, January 3rd. Zacks Investment Research lowered shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Finally, Leerink Swann started coverage on shares of Puma Biotechnology in a research report on Thursday, January 17th. They issued a “market perform” rating and a $21.00 target price on the stock. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Puma Biotechnology presently has a consensus rating of “Hold” and a consensus target price of $51.91.
The company has a current ratio of 3.02, a quick ratio of 2.99 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -13.51 and a beta of 0.64.
A number of hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc raised its stake in Puma Biotechnology by 969.5% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,139 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 1,939 shares during the period. Resources Management Corp CT ADV purchased a new position in Puma Biotechnology during the third quarter worth about $101,000. Amundi Pioneer Asset Management Inc. purchased a new position in Puma Biotechnology during the fourth quarter worth about $61,000. Rothschild & Co. Asset Management US Inc. raised its stake in Puma Biotechnology by 12.4% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 35,267 shares of the biopharmaceutical company’s stock worth $1,617,000 after purchasing an additional 3,895 shares during the period. Finally, Legal & General Group Plc raised its stake in Puma Biotechnology by 46.8% during the fourth quarter. Legal & General Group Plc now owns 14,657 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 4,676 shares during the period. 90.02% of the stock is currently owned by institutional investors.
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Puma Biotechnology Company Profile (NASDAQ:PBYI)
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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