Puma Biotechnology Inc (NYSE:PBYI) Stock Rating Lowered by BidaskClub
Puma Biotechnology Inc (NYSE:PBYI) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
PBYI has been the topic of several other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, May 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Puma Biotechnology in a research report on Tuesday, April 18th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $89.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, May 24th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price objective (up previously from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $103.35.
Puma Biotechnology (PBYI) traded down 6.92% during trading on Thursday, hitting $74.00. 363,622 shares of the company were exchanged. The company has a 50-day moving average of $89.05 and a 200-day moving average of $55.88. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $98.85. The company’s market capitalization is $2.74 billion.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.78. Analysts forecast that Puma Biotechnology will post ($8.53) EPS for the current year.
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In other news, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $87.84, for a total value of $44,546,123.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard Paul Bryce sold 1,998 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.48, for a total transaction of $188,771.04. Following the completion of the sale, the senior vice president now owns 27,246 shares in the company, valued at approximately $2,574,202.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,010,261 shares of company stock worth $159,425,452. 22.70% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Puma Biotechnology during the second quarter valued at about $122,000. Bank of Montreal Can bought a new stake in shares of Puma Biotechnology during the first quarter valued at about $195,000. Alambic Investment Management L.P. bought a new stake in shares of Puma Biotechnology during the first quarter valued at about $201,000. Teacher Retirement System of Texas bought a new stake in shares of Puma Biotechnology during the second quarter valued at about $211,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Puma Biotechnology during the second quarter valued at about $227,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
Puma Biotechnology Company Profile
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.
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