Puma Biotechnology (NASDAQ:PBYI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Puma Biotechnology in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Puma Biotechnology Price Performance

Puma Biotechnology stock opened at $6.42 on Friday. Puma Biotechnology has a one year low of $2.58 and a one year high of $7.68. The business’s fifty day moving average is $6.51 and its 200 day moving average is $5.60. The stock has a market capitalization of $326.65 million, a PE ratio of 10.52 and a beta of 1.27.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Puma Biotechnology had a net margin of 13.62% and a return on equity of 27.80%. The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $68.60 million. As a group, sell-side analysts expect that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Puma Biotechnology

In related news, insider Douglas M. Hunt sold 5,014 shares of Puma Biotechnology stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $29,482.32. Following the transaction, the insider owned 155,907 shares in the company, valued at approximately $916,733.16. The trade was a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Auerbach sold 18,012 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total transaction of $105,910.56. Following the completion of the transaction, the chief executive officer directly owned 7,145,951 shares of the company’s stock, valued at $42,018,191.88. This represents a 0.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 43,937 shares of company stock worth $257,513 over the last 90 days. Insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PBYI. CWM LLC boosted its stake in Puma Biotechnology by 214.1% in the 2nd quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 6,450 shares during the period. Cerity Partners LLC bought a new position in shares of Puma Biotechnology during the 2nd quarter valued at about $36,000. BNP Paribas Financial Markets increased its holdings in shares of Puma Biotechnology by 39.7% in the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,290 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $44,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology during the fourth quarter valued at approximately $49,000. 61.29% of the stock is owned by hedge funds and other institutional investors.

About Puma Biotechnology

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.