BidaskClub Lowers Puma Biotechnology (NASDAQ:PBYI) to Sell

BidaskClub lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a sell rating in a report released on Monday morning, BidAskClub reports.

Several other research firms have also commented on PBYI. Cantor Fitzgerald lowered shares of Puma Biotechnology from an overweight rating to a neutral rating and decreased their price objective for the stock from $57.00 to $20.00 in a research report on Friday, May 10th. Goldman Sachs Group decreased their price objective on shares of Puma Biotechnology from $29.00 to $24.00 and set a neutral rating on the stock in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Citigroup set a $13.00 price objective on shares of Puma Biotechnology and gave the stock a hold rating in a research report on Monday, August 12th. Barclays decreased their price objective on shares of Puma Biotechnology from $21.00 to $9.00 and set an underweight rating on the stock in a research report on Friday, August 9th. Finally, Zacks Investment Research lowered shares of Puma Biotechnology from a buy rating to a hold rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Puma Biotechnology presently has an average rating of Hold and an average price target of $22.56.

Puma Biotechnology stock opened at $11.19 on Monday. Puma Biotechnology has a 52 week low of $8.45 and a 52 week high of $50.75. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 5.39. The firm’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $22.62. The firm has a market capitalization of $396.75 million, a PE ratio of -3.74 and a beta of 1.73.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.07). Puma Biotechnology had a negative return on equity of 254.09% and a negative net margin of 32.23%. The business had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $53.40 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Puma Biotechnology’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that Puma Biotechnology will post -2.67 EPS for the current fiscal year.

In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $9.98, for a total value of $126,895.70. Following the transaction, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 14,299 shares of company stock worth $146,360. 21.80% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in PBYI. Norges Bank purchased a new position in Puma Biotechnology in the 4th quarter valued at about $13,719,000. Nuveen Asset Management LLC purchased a new position in Puma Biotechnology in the 2nd quarter valued at about $7,716,000. Morgan Stanley lifted its holdings in Puma Biotechnology by 273.6% in the 2nd quarter. Morgan Stanley now owns 487,392 shares of the biopharmaceutical company’s stock valued at $6,194,000 after purchasing an additional 356,949 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Puma Biotechnology by 16.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,170,423 shares of the biopharmaceutical company’s stock valued at $84,191,000 after purchasing an additional 308,479 shares in the last quarter. Finally, Bogle Investment Management L P DE purchased a new position in Puma Biotechnology in the 2nd quarter valued at about $3,342,000. Institutional investors own 83.15% of the company’s stock.

Puma Biotechnology Company Profile

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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