Puma Biotechnology, Inc. (NASDAQ:PBYI – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.46 and traded as high as $5.30. Puma Biotechnology shares last traded at $5.17, with a volume of 248,185 shares.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on PBYI. HC Wainwright cut their target price on Puma Biotechnology from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 1st. StockNews.com cut Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th.
Get Our Latest Stock Report on Puma Biotechnology
Puma Biotechnology Stock Performance
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.07). The company had revenue of $72.20 million during the quarter, compared to analyst estimates of $73.22 million. Puma Biotechnology had a net margin of 9.16% and a return on equity of 58.21%. On average, sell-side analysts predict that Puma Biotechnology, Inc. will post 0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PBYI. Great Point Partners LLC acquired a new stake in Puma Biotechnology in the fourth quarter valued at $4,734,000. Marshall Wace LLP acquired a new stake in Puma Biotechnology in the fourth quarter valued at $1,359,000. Millennium Management LLC grew its holdings in Puma Biotechnology by 16.0% in the second quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock valued at $6,317,000 after purchasing an additional 304,969 shares during the last quarter. EAM Investors LLC acquired a new stake in Puma Biotechnology in the fourth quarter valued at $1,154,000. Finally, Citadel Advisors LLC grew its holdings in Puma Biotechnology by 621.1% in the second quarter. Citadel Advisors LLC now owns 299,477 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 257,947 shares during the last quarter. Hedge funds and other institutional investors own 61.29% 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 in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.
Further Reading
- Five stocks we like better than Puma Biotechnology
- What Are Dividend Achievers? An Introduction
- United Airlines Soars on Earnings Beat
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- J.B. Hunt Hits the Skids: Lower Prices to Come
- 3 Healthcare Dividend Stocks to Buy
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.