Puma Biotechnology Inc (PBYI) Downgraded by BidaskClub
BidaskClub cut shares of Puma Biotechnology Inc (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a research report report published on Tuesday.
Several other brokerages have also commented on PBYI. Credit Suisse Group raised their price objective on shares of Puma Biotechnology from $118.00 to $136.00 and gave the stock an outperform rating in a report on Monday, September 11th. Leerink Swann restated an outperform rating and issued a $125.00 price objective (up from $115.00) on shares of Puma Biotechnology in a report on Wednesday, July 19th. J P Morgan Chase & Co restated a buy rating on shares of Puma Biotechnology in a report on Tuesday, August 1st. Cowen and Company restated an outperform rating and issued a $120.00 price objective (up from $91.00) on shares of Puma Biotechnology in a report on Saturday, July 22nd. Finally, Bank of America Corporation restated a buy rating and issued a $117.00 price objective (up from $100.00) on shares of Puma Biotechnology in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $130.67.
Puma Biotechnology (NASDAQ:PBYI) traded up $2.35 during midday trading on Tuesday, hitting $105.50. The company had a trading volume of 723,339 shares, compared to its average volume of 1,118,411. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90.
Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.50) by $0.43. The business had revenue of $6.10 million during the quarter, compared to the consensus estimate of $3.78 million. During the same period in the previous year, the business earned ($1.11) earnings per share. analysts predict that Puma Biotechnology will post -8.19 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Puma Biotechnology Inc (PBYI) Downgraded by BidaskClub” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/11/17/puma-biotechnology-inc-pbyi-downgraded-by-bidaskclub.html.
In other news, SVP Richard Paul Bryce sold 15,000 shares of Puma Biotechnology stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the senior vice president now directly owns 42,239 shares in the company, valued at $5,068,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.10% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Puma Biotechnology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 32,247 shares of the biopharmaceutical company’s stock valued at $2,818,000 after purchasing an additional 1,446 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Puma Biotechnology during the second quarter valued at approximately $211,000. Renaissance Technologies LLC purchased a new position in shares of Puma Biotechnology during the first quarter valued at approximately $7,682,000. BlackRock Inc. lifted its holdings in shares of Puma Biotechnology by 5.0% during the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after purchasing an additional 86,924 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Puma Biotechnology during the second quarter valued at approximately $302,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.
About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
Receive News & Stock Ratings for Puma Biotechnology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology Inc and related stocks with our FREE daily email newsletter.