Puma Biotechnology (PBYI) Sees Strong Trading Volume

Shares of Puma Biotechnology Inc (NASDAQ:PBYI) saw an uptick in trading volume on Tuesday . 6,781,256 shares were traded during mid-day trading, an increase of 623% from the previous session’s volume of 937,838 shares.The stock last traded at $63.55 and had previously closed at $51.10.

A number of brokerages have recently commented on PBYI. ValuEngine cut Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Barclays cut Puma Biotechnology from an “overweight” rating to an “equal weight” rating and set a $90.00 price target for the company. in a research note on Thursday, April 12th. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Monday, May 7th. Credit Suisse Group set a $106.00 price target on Puma Biotechnology and gave the company a “buy” rating in a research note on Monday, May 7th. Finally, BidaskClub cut Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Puma Biotechnology currently has a consensus rating of “Buy” and an average price target of $99.20.

The stock has a market capitalization of $2.00 billion, a PE ratio of -8.10 and a beta of 0.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.87.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.26) by $0.61. The company had revenue of $66.50 million for the quarter, compared to the consensus estimate of $67.33 million. During the same period in the prior year, the business earned ($1.16) earnings per share. equities analysts predict that Puma Biotechnology Inc will post -3.83 EPS for the current year.

In related news, insider Charles R. Eyler sold 1,211 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $53.00, for a total transaction of $64,183.00. Following the completion of the transaction, the insider now directly owns 35,816 shares of the company’s stock, valued at approximately $1,898,248. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.50% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in PBYI. Ladenburg Thalmann Financial Services Inc. raised its position in Puma Biotechnology by 307.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 1,167 shares during the last quarter. First Republic Investment Management Inc. bought a new position in Puma Biotechnology during the 4th quarter worth $208,000. Jafra Capital Management LP bought a new position in Puma Biotechnology during the 4th quarter worth $257,000. Royal Bank of Canada raised its position in Puma Biotechnology by 271.3% during the 1st quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Puma Biotechnology during the 4th quarter worth $292,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Puma Biotechnology Company 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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