HC Wainwright assumed coverage on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note released on Friday, 24/7 WallStreet reports. The brokerage issued a buy rating and a $15.00 target price on the biopharmaceutical company’s stock.

PBYI has been the subject of a number of other research reports. BidaskClub raised Puma Biotechnology from a strong sell rating to a sell rating in a report on Thursday, November 21st. Royal Bank of Canada lowered their price target on shares of Puma Biotechnology to $13.00 and set a sector perform rating on the stock in a report on Thursday, November 7th. Barclays dropped their target price on Puma Biotechnology from $9.00 to $6.00 and set an underweight rating on the stock in a research report on Thursday, November 7th. Citigroup set a $13.00 target price on Puma Biotechnology and gave the company a hold rating in a report on Monday, August 12th. Finally, Cowen restated a hold rating and set a $25.00 price target on shares of Puma Biotechnology in a report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $14.22.

Shares of Puma Biotechnology stock opened at $7.88 on Friday. The stock’s fifty day moving average is $8.05 and its two-hundred day moving average is $10.64. The company has a market capitalization of $307.01 million, a PE ratio of -2.64 and a beta of 1.68. The company has a quick ratio of 1.67, a current ratio of 1.71 and a debt-to-equity ratio of 6.84. Puma Biotechnology has a 52 week low of $6.26 and a 52 week high of $43.90.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.32. The business had revenue of $56.40 million during the quarter, compared to analyst estimates of $60.21 million. Puma Biotechnology had a negative return on equity of 325.89% and a negative net margin of 33.90%. Puma Biotechnology’s revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. As a group, research analysts anticipate that Puma Biotechnology will post -2.15 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in Puma Biotechnology by 111.7% in the third quarter. Point72 Asset Management L.P. now owns 506,221 shares of the biopharmaceutical company’s stock valued at $5,449,000 after buying an additional 267,048 shares during the last quarter. GSA Capital Partners LLP raised its position in Puma Biotechnology by 361.8% in the 2nd quarter. GSA Capital Partners LLP now owns 29,718 shares of the biopharmaceutical company’s stock valued at $378,000 after purchasing an additional 23,283 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Puma Biotechnology by 5,456.6% during the 2nd quarter. Acadian Asset Management LLC now owns 254,714 shares of the biopharmaceutical company’s stock worth $3,236,000 after purchasing an additional 250,130 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Puma Biotechnology by 56.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,201 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 6,214 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Puma Biotechnology by 1,427.3% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 223,200 shares of the biopharmaceutical company’s stock worth $2,824,000 after purchasing an additional 208,586 shares during the period. 92.70% of the stock is currently owned by institutional investors.

About Puma Biotechnology

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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Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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