Oppenheimer Asset Management Inc. bought a new stake in shares of Puma Biotechnology Inc (NASDAQ:PBYI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,656 shares of the biopharmaceutical company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBYI. Macquarie Group Ltd. purchased a new position in Puma Biotechnology during the second quarter valued at $27,964,000. Jennison Associates LLC lifted its position in Puma Biotechnology by 95.9% during the second quarter. Jennison Associates LLC now owns 950,998 shares of the biopharmaceutical company’s stock valued at $56,252,000 after purchasing an additional 465,453 shares in the last quarter. Millennium Management LLC lifted its position in Puma Biotechnology by 168.7% during the second quarter. Millennium Management LLC now owns 546,630 shares of the biopharmaceutical company’s stock valued at $32,333,000 after purchasing an additional 343,180 shares in the last quarter. Redwood Investments LLC lifted its position in Puma Biotechnology by 79.3% during the second quarter. Redwood Investments LLC now owns 349,260 shares of the biopharmaceutical company’s stock valued at $20,659,000 after purchasing an additional 154,487 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Puma Biotechnology by 5.7% during the second quarter. BlackRock Inc. now owns 2,505,710 shares of the biopharmaceutical company’s stock valued at $148,211,000 after purchasing an additional 135,996 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

NASDAQ:PBYI opened at $23.37 on Friday. The company has a quick ratio of 2.64, a current ratio of 3.01 and a debt-to-equity ratio of 2.64. Puma Biotechnology Inc has a 52 week low of $17.60 and a 52 week high of $117.00.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.60. The business had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $57.94 million. Puma Biotechnology had a negative return on equity of 301.41% and a negative net margin of 73.45%. The business’s quarterly revenue was up 926.2% on a year-over-year basis. During the same period last year, the firm earned ($1.36) earnings per share. Equities research analysts expect that Puma Biotechnology Inc will post -3.4 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the company. Goldman Sachs Group assumed coverage on Puma Biotechnology in a research report on Monday, September 17th. They set a “sell” rating and a $42.00 target price on the stock. Cowen reiterated a “hold” rating and set a $80.00 target price on shares of Puma Biotechnology in a research report on Friday, August 10th. Bank of America downgraded Puma Biotechnology from a “buy” rating to an “underperform” rating in a research report on Friday, November 2nd. BidaskClub upgraded Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Finally, ValuEngine upgraded Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.45.

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Puma Biotechnology Profile

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States. 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)).

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for Puma Biotechnology (NASDAQ:PBYI)

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