Puma Biotechnology Inc (NASDAQ:PBYI) has received a consensus recommendation of “Buy” from the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $103.11.
A number of brokerages have recently weighed in on PBYI. Credit Suisse Group set a $147.00 target price on Puma Biotechnology and gave the company a “buy” rating in a research note on Monday, January 22nd. BidaskClub upgraded Puma Biotechnology from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Citigroup lowered their target price on Puma Biotechnology from $164.00 to $146.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Bank of America lowered their target price on Puma Biotechnology from $135.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Finally, Barclays lowered their target price on Puma Biotechnology from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, March 2nd.
In related news, SVP Richard Paul Bryce sold 1,860 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $172,515.00. Following the transaction, the senior vice president now owns 25,379 shares in the company, valued at $2,353,902.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alan H. Auerbach sold 10,692 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $991,683.00. Following the completion of the transaction, the insider now owns 4,155,931 shares in the company, valued at approximately $385,462,600.25. The disclosure for this sale can be found here. 21.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. bought a new position in Puma Biotechnology during the fourth quarter worth about $208,000. Sei Investments Co. bought a new position in Puma Biotechnology during the third quarter worth about $256,000. Jafra Capital Management LP bought a new position in Puma Biotechnology during the fourth quarter worth about $257,000. Clear Harbor Asset Management LLC bought a new position in Puma Biotechnology during the fourth quarter worth about $288,000. Finally, Xact Kapitalforvaltning AB bought a new position in Puma Biotechnology during the fourth quarter worth about $292,000. Hedge funds and other institutional investors own 95.95% of the company’s stock.
Shares of NASDAQ:PBYI traded down $1.85 during midday trading on Wednesday, reaching $66.20. The company’s stock had a trading volume of 326,423 shares, compared to its average volume of 993,382. Puma Biotechnology has a fifty-two week low of $28.35 and a fifty-two week high of $136.90. The firm has a market cap of $2,566.83, a PE ratio of -8.67 and a beta of 0.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.79 and a current ratio of 1.82.
Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.98) by $0.27. The business had revenue of $21.60 million during the quarter, compared to analyst estimates of $20.83 million. During the same quarter last year, the business posted ($1.22) earnings per share. analysts anticipate that Puma Biotechnology will post -4.07 EPS for the current fiscal year.
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About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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