Puma Biotechnology (NASDAQ:PBYI) Stock Rating Lowered by Wall Street Zen

Puma Biotechnology (NASDAQ:PBYIGet Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Puma Biotechnology in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Check Out Our Latest Analysis on PBYI

Puma Biotechnology Price Performance

PBYI stock opened at $5.70 on Friday. The business has a fifty day moving average price of $6.50 and a 200 day moving average price of $5.59. Puma Biotechnology has a fifty-two week low of $2.58 and a fifty-two week high of $7.68. The stock has a market capitalization of $287.22 million, a price-to-earnings ratio of 9.34 and a beta of 1.22.

Puma Biotechnology (NASDAQ:PBYIGet Free Report) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Puma Biotechnology had a return on equity of 29.42% and a net margin of 13.62%.The company had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $68.60 million. On average, equities analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Alan H. Auerbach sold 18,012 shares of Puma Biotechnology stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $105,910.56. Following the completion of the sale, the chief executive officer directly owned 7,145,951 shares in the company, valued at $42,018,191.88. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas M. Hunt sold 5,014 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $29,482.32. Following the transaction, the insider owned 155,907 shares in the company, valued at approximately $916,733.16. The trade was a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 43,937 shares of company stock worth $257,513. 23.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Puma Biotechnology by 405.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,508 shares of the biopharmaceutical company’s stock valued at $1,054,000 after purchasing an additional 159,200 shares in the last quarter. Acorn Capital Advisors LLC grew its holdings in shares of Puma Biotechnology by 4.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock valued at $14,170,000 after buying an additional 191,247 shares during the period. Ritholtz Wealth Management increased its position in shares of Puma Biotechnology by 139.0% in the 3rd quarter. Ritholtz Wealth Management now owns 470,767 shares of the biopharmaceutical company’s stock valued at $2,500,000 after buying an additional 273,782 shares in the last quarter. Ethic Inc. bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Puma Biotechnology by 8.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 900,256 shares of the biopharmaceutical company’s stock worth $3,088,000 after buying an additional 68,567 shares during the period. 61.29% of the stock is owned by institutional investors.

Puma Biotechnology News Summary

Here are the key news stories impacting Puma Biotechnology this week:

About Puma Biotechnology

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Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.

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