Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Puma Biotechnology from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Cowen reissued a “hold” rating and set a $80.00 price target on shares of Puma Biotechnology in a research report on Friday, August 10th. Citigroup boosted their price target on Puma Biotechnology from $146.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, June 28th. ValuEngine downgraded Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. Finally, Stifel Nicolaus lowered their price target on Puma Biotechnology from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Friday, May 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $101.40.

PBYI stock opened at $42.65 on Wednesday. Puma Biotechnology has a 12-month low of $41.30 and a 12-month high of $136.90. The company has a quick ratio of 2.64, a current ratio of 2.68 and a debt-to-equity ratio of 3.14. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -5.43 and a beta of -0.10.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.26) by $0.09. Puma Biotechnology had a negative return on equity of 367.92% and a negative net margin of 146.27%. The firm had revenue of $50.80 million during the quarter, compared to the consensus estimate of $45.67 million. During the same quarter in the previous year, the business earned ($1.38) earnings per share. research analysts anticipate that Puma Biotechnology will post -3.68 earnings per share for the current year.

In other news, insider Charles R. Eyler sold 1,211 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $53.00, for a total value of $64,183.00. Following the completion of the sale, the insider now owns 35,816 shares of the company’s stock, valued at $1,898,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Paul Bryce sold 1,836 shares of the company’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $51.95, for a total value of $95,380.20. Following the completion of the sale, the insider now directly owns 32,543 shares of the company’s stock, valued at approximately $1,690,608.85. The disclosure for this sale can be found here. Insiders sold 15,567 shares of company stock valued at $810,603 in the last ninety days. Company insiders own 21.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Puma Biotechnology by 307.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 1,167 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $141,000. Boston Advisors LLC purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $262,000. Royal Bank of Canada boosted its position in shares of Puma Biotechnology by 271.3% in the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 2,938 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $289,000. 92.44% of the stock is 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 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)).

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