Puma Biotechnology (NASDAQ:PBYI) Downgraded by StockNews.com

Posted by on Apr 27th, 2023

Puma Biotechnology (NASDAQ:PBYI – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Puma Biotechnology in a research note on Monday, March 6th.

Puma Biotechnology Stock Down 4.4 %

Shares of NASDAQ PBYI opened at $2.60 on Thursday. The stock has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $3.59. Puma Biotechnology has a 1-year low of $1.60 and a 1-year high of $5.16. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.73 and a quick ratio of 1.67.

Puma Biotechnology (NASDAQ:PBYI – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The firm had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $57.10 million. Sell-side analysts expect that Puma Biotechnology will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

A number of large investors have recently added to or reduced their stakes in PBYI. BlackRock Inc. increased its holdings in shares of Puma Biotechnology by 5.5% in the first quarter. BlackRock Inc. now owns 3,379,684 shares of the biopharmaceutical company’s stock worth $9,733,000 after buying an additional 175,447 shares during the period. Millennium Management LLC increased its holdings in Puma Biotechnology by 16.0% during the 2nd quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock valued at $6,317,000 after purchasing an additional 304,969 shares during the period. Renaissance Technologies LLC increased its holdings in Puma Biotechnology by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,976,935 shares of the biopharmaceutical company’s stock valued at $5,634,000 after purchasing an additional 205,700 shares during the period. State Street Corp increased its holdings in Puma Biotechnology by 10.6% during the 1st quarter. State Street Corp now owns 639,629 shares of the biopharmaceutical company’s stock valued at $1,842,000 after purchasing an additional 61,539 shares during the period. Finally, Morgan Stanley increased its holdings in Puma Biotechnology by 27.1% during the 4th quarter. Morgan Stanley now owns 497,707 shares of the biopharmaceutical company’s stock valued at $2,105,000 after purchasing an additional 106,185 shares during the period. Hedge funds and other institutional investors own 60.58% of the company’s stock.

Puma Biotechnology Company Profile

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Puma Biotechnology, Inc is a biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. It focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use.

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