C WorldWide Group Holding A S reduced its stake in shares of Puma Biotechnology Inc (NASDAQ:PBYI) by 14.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 55,048 shares of the biopharmaceutical company’s stock after selling 9,537 shares during the period. C WorldWide Group Holding A S’s holdings in Puma Biotechnology were worth $2,524,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PBYI. American Century Companies Inc. raised its holdings in shares of Puma Biotechnology by 43.0% in the third quarter. American Century Companies Inc. now owns 77,783 shares of the biopharmaceutical company’s stock valued at $3,566,000 after acquiring an additional 23,394 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Puma Biotechnology by 55.5% in the third quarter. Clear Harbor Asset Management LLC now owns 10,891 shares of the biopharmaceutical company’s stock valued at $441,000 after acquiring an additional 3,885 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Puma Biotechnology in the third quarter valued at about $213,000. Rice Hall James & Associates LLC raised its holdings in shares of Puma Biotechnology by 36.8% in the third quarter. Rice Hall James & Associates LLC now owns 238,999 shares of the biopharmaceutical company’s stock valued at $10,958,000 after acquiring an additional 64,242 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Puma Biotechnology by 52.2% in the third quarter. Creative Planning now owns 7,804 shares of the biopharmaceutical company’s stock valued at $358,000 after acquiring an additional 2,675 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on PBYI shares. BidaskClub lowered Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. ValuEngine upgraded Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Cowen reiterated a “hold” rating and issued a $80.00 target price on shares of Puma Biotechnology in a research note on Friday, August 10th. Goldman Sachs Group started coverage on Puma Biotechnology in a research note on Monday, September 17th. They issued a “sell” rating and a $42.00 target price on the stock. Finally, Citigroup cut their target price on Puma Biotechnology from $164.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, September 18th. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Puma Biotechnology has a consensus rating of “Hold” and an average target price of $72.45.
Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.60. Puma Biotechnology had a negative return on equity of 295.69% and a negative net margin of 73.45%. The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.94 million. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The firm’s quarterly revenue was up 926.2% compared to the same quarter last year. Sell-side analysts predict that Puma Biotechnology Inc will post -3.56 EPS for the current fiscal year.
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Puma Biotechnology Profile
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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