Puma Biotechnology (NASDAQ:PBYI) Stock Rating Lowered by StockNews.com

Posted by on Jun 21st, 2023

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

Separately, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Puma Biotechnology in a report on Monday, March 6th.

Puma Biotechnology Stock Up 0.9 %

Shares of Puma Biotechnology stock opened at $3.55 on Wednesday. The business’s 50 day simple moving average is $3.10 and its 200 day simple moving average is $3.61. Puma Biotechnology has a 52-week low of $2.08 and a 52-week high of $5.16. The firm has a market cap of $165.82 million, a PE ratio of 32.28, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.24 and a current ratio of 2.32.

Puma Biotechnology (NASDAQ:PBYI – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.13. The business had revenue of $52.80 million during the quarter, compared to analysts’ expectations of $49.71 million. Puma Biotechnology had a return on equity of 21.49% and a net margin of 2.04%. On average, analysts predict that Puma Biotechnology will post 0.45 earnings per share for the current fiscal year.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, Director Troy Edward Wilson sold 27,000 shares of Puma Biotechnology stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $3.45, for a total transaction of $93,150.00. Following the completion of the sale, the director now owns 350 shares of the company’s stock, valued at $1,207.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Puma Biotechnology in the 2nd quarter valued at approximately $32,000. Balyasny Asset Management LLC bought a new position in shares of Puma Biotechnology during the 3rd quarter valued at $33,000. UBS Group AG lifted its holdings in shares of Puma Biotechnology by 217.6% during the 1st quarter. UBS Group AG now owns 10,925 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 7,485 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Puma Biotechnology in the 1st quarter worth $35,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Puma Biotechnology in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 59.51% of the company’s stock.

Puma Biotechnology Company Profile

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Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company's drug candidates include PB272 (neratinib, oral), for the patients with early stage HER2-overexpressed/amplified breast cancer; for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; and for HER2 mutation-positive solid tumors.

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