Puma Biotechnology (NASDAQ:PBYI – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Separately, HC Wainwright cut their price objective on Puma Biotechnology from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 1st.
Get Our Latest Stock Report on PBYI
Puma Biotechnology Trading Up 3.6 %
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.07). Puma Biotechnology had a return on equity of 58.21% and a net margin of 9.16%. The company had revenue of $72.20 million during the quarter, compared to analyst estimates of $73.22 million. On average, sell-side analysts anticipate that Puma Biotechnology will post 0.29 earnings per share for the current year.
Institutional Investors Weigh In On Puma Biotechnology
Several large investors have recently added to or reduced their stakes in PBYI. Great Point Partners LLC purchased a new position in Puma Biotechnology in the fourth quarter valued at $4,734,000. Marshall Wace LLP purchased a new position in shares of Puma Biotechnology in the 4th quarter valued at about $1,359,000. Millennium Management LLC grew its position in shares of Puma Biotechnology by 16.0% during the second quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock worth $6,317,000 after buying an additional 304,969 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Puma Biotechnology during the fourth quarter worth approximately $1,154,000. Finally, Citadel Advisors LLC raised 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 acquiring an additional 257,947 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.
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
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- 4 Golden Crosses With Double-Digit Upside Ahead
- What Are Dividends? Buy the Best Dividend Stocks
- All-Aboard! Greenbrier Companies Breaks Out, New Highs Ahead
- Insider Trades May Not Tell You What You Think
- 3 High Dividend Socks to Replace Lower Savings Yields Ahead
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.