Puma Biotechnology Inc (NASDAQ:PBYI) Receives Consensus Rating of “Hold” from Brokerages

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Puma Biotechnology Inc (NASDAQ:PBYI) has received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.13.

Several research firms have weighed in on PBYI. Barclays dropped their price target on Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price target on Puma Biotechnology to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Cowen restated a “hold” rating and issued a $25.00 price target on shares of Puma Biotechnology in a research note on Friday, August 9th. Cantor Fitzgerald dropped their price target on Puma Biotechnology from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. restated a “sell” rating and issued a $13.00 price target on shares of Puma Biotechnology in a research note on Monday, August 12th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Puma Biotechnology by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,065,679 shares of the biopharmaceutical company’s stock valued at $38,964,000 after buying an additional 118,785 shares during the period. Macquarie Group Ltd. raised its holdings in Puma Biotechnology by 6.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,053,402 shares of the biopharmaceutical company’s stock valued at $13,389,000 after buying an additional 66,234 shares during the period. Nuveen Asset Management LLC purchased a new stake in Puma Biotechnology during the 2nd quarter valued at $7,716,000. Rock Springs Capital Management LP raised its holdings in Puma Biotechnology by 16.7% during the 2nd quarter. Rock Springs Capital Management LP now owns 534,400 shares of the biopharmaceutical company’s stock valued at $6,792,000 after buying an additional 76,400 shares during the period. Finally, Morgan Stanley raised its holdings in Puma Biotechnology by 273.6% during the 2nd quarter. Morgan Stanley now owns 487,392 shares of the biopharmaceutical company’s stock valued at $6,194,000 after buying an additional 356,949 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

PBYI stock traded down $0.36 during midday trading on Monday, hitting $7.60. The company’s stock had a trading volume of 18,179 shares, compared to its average volume of 1,631,318. Puma Biotechnology has a 12 month low of $6.26 and a 12 month high of $43.90. The company has a quick ratio of 1.67, a current ratio of 1.71 and a debt-to-equity ratio of 6.84. The firm has a market capitalization of $311.69 million, a price-to-earnings ratio of -2.61 and a beta of 1.52. The company has a 50 day moving average of $8.13 and a two-hundred day moving average of $12.40.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.32. Puma Biotechnology had a negative return on equity of 325.89% and a negative net margin of 33.90%. The business had revenue of $56.40 million during the quarter, compared to the consensus estimate of $60.21 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts anticipate that Puma Biotechnology will post -2.15 earnings per share for the current fiscal year.

About Puma Biotechnology

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. 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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