Puma Biotechnology (NASDAQ:PBYI) Shares Down 3.3%

Puma Biotechnology Inc (NASDAQ:PBYI)’s stock price fell 3.3% on Wednesday . The company traded as low as $9.25 and last traded at $9.04, 36,813 shares were traded during trading. A decline of 98% from the average session volume of 1,564,333 shares. The stock had previously closed at $9.35.

A number of research firms have issued reports on PBYI. BidaskClub raised Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 21st. Citigroup set a $13.00 price target on Puma Biotechnology and gave the company a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald dropped their price objective 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. Goldman Sachs Group downgraded Puma Biotechnology from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $24.00 to $8.00 in a report on Tuesday, October 8th. Finally, Barclays reduced their price objective on Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.13.

The firm’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $10.77. The firm has a market capitalization of $369.74 million, a price-to-earnings ratio of -2.94 and a beta of 1.68. The company has a debt-to-equity ratio of 6.84, a quick ratio of 1.67 and a current ratio of 1.71.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.32. The firm had revenue of $56.40 million for the quarter, compared to analyst estimates of $60.21 million. Puma Biotechnology had a negative net margin of 33.90% and a negative return on equity of 325.89%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, sell-side analysts forecast that Puma Biotechnology Inc will post -2.15 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of PBYI. Fisher Asset Management LLC grew its holdings in shares of Puma Biotechnology by 181.7% in the second quarter. Fisher Asset Management LLC now owns 44,469 shares of the biopharmaceutical company’s stock valued at $565,000 after purchasing an additional 28,683 shares during the period. First Trust Advisors LP purchased a new position in shares of Puma Biotechnology during the second quarter worth $648,000. BNP Paribas Arbitrage SA grew its stake in shares of Puma Biotechnology by 56.6% in the second quarter. BNP Paribas Arbitrage SA now owns 17,201 shares of the biopharmaceutical company’s stock valued at $219,000 after buying an additional 6,214 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Puma Biotechnology by 111.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,158 shares of the biopharmaceutical company’s stock valued at $282,000 after buying an additional 11,658 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Puma Biotechnology by 1,427.3% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 223,200 shares of the biopharmaceutical company’s stock valued at $2,824,000 after buying an additional 208,586 shares during the period. Institutional investors own 92.68% of the company’s stock.

About Puma Biotechnology (NASDAQ:PBYI)

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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