Puma Biotechnology Inc (NASDAQ:PBYI)’s share price traded down 9% on Thursday . The company traded as low as $7.95 and last traded at $8.00, 1,117,600 shares traded hands during mid-day trading. A decline of 14% from the average session volume of 1,306,009 shares. The stock had previously closed at $8.79.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Puma Biotechnology to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Citigroup set a $13.00 price objective on shares of Puma Biotechnology and gave the company a “hold” rating in a research note on Monday, August 12th. BidaskClub lowered shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 15th. Barclays reduced their price objective on shares of Puma Biotechnology from $9.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, ValuEngine upgraded shares of Puma Biotechnology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.13.

The business’s 50-day moving average price is $8.22 and its 200 day moving average price is $12.53. The stock has a market capitalization of $331.95 million, a PE ratio of -2.68 and a beta of 1.52. The company has a debt-to-equity ratio of 6.84, a quick ratio of 1.67 and a current ratio of 1.71.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Puma Biotechnology by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,065,679 shares of the biopharmaceutical company’s stock valued at $38,964,000 after purchasing an additional 118,785 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Puma Biotechnology by 6.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,053,402 shares of the biopharmaceutical company’s stock valued at $13,389,000 after purchasing an additional 66,234 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at $7,716,000. Rock Springs Capital Management LP grew its position in shares of Puma Biotechnology by 16.7% during the 2nd quarter. Rock Springs Capital Management LP now owns 534,400 shares of the biopharmaceutical company’s stock valued at $6,792,000 after purchasing an additional 76,400 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Puma Biotechnology by 273.6% during the 2nd quarter. Morgan Stanley now owns 487,392 shares of the biopharmaceutical company’s stock valued at $6,194,000 after purchasing an additional 356,949 shares in the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About Puma Biotechnology (NASDAQ:PBYI)

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).

Featured Article: Asset Allocation Models, Which is Right For You?

Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.