Puma Biotechnology (NASDAQ:PBYI) Research Coverage Started at HC Wainwright

Analysts at HC Wainwright started coverage on shares of Puma Biotechnology (NASDAQ:PBYI) in a research report issued on Friday, The Fly reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on PBYI. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Puma Biotechnology in a report on Friday, August 9th. Citigroup set a $13.00 price target on Puma Biotechnology and gave the company a “hold” rating in a research note on Monday, August 12th. Cantor Fitzgerald lowered their price target on Puma Biotechnology from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. BidaskClub raised Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Barclays dropped their price objective on Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.13.

Shares of NASDAQ:PBYI opened at $8.95 on Friday. The company’s 50-day moving average price is $8.02 and its two-hundred day moving average price is $10.68. The company has a debt-to-equity ratio of 6.84, a current ratio of 1.71 and a quick ratio of 1.67. Puma Biotechnology has a one year low of $6.26 and a one year high of $43.90. The stock has a market capitalization of $331.56 million, a PE ratio of -2.99 and a beta of 1.68.

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

A number of large investors have recently modified their holdings of PBYI. Nuveen Asset Management LLC bought a new position in Puma Biotechnology during the second quarter worth about $7,716,000. Morgan Stanley raised its stake in Puma Biotechnology by 273.6% in the second 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. Point72 Asset Management L.P. raised its stake in Puma Biotechnology by 111.7% in the third quarter. Point72 Asset Management L.P. now owns 506,221 shares of the biopharmaceutical company’s stock valued at $5,449,000 after buying an additional 267,048 shares during the period. Bogle Investment Management L P DE acquired a new stake in shares of Puma Biotechnology in the second quarter valued at approximately $3,342,000. Finally, Acadian Asset Management LLC lifted its position in shares of Puma Biotechnology by 5,456.6% in the second quarter. Acadian Asset Management LLC now owns 254,714 shares of the biopharmaceutical company’s stock valued at $3,236,000 after buying an additional 250,130 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

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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