Puma Biotechnology (NASDAQ:PBYI) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Puma Biotechnology (NASDAQ:PBYIFree Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

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

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Puma Biotechnology Stock Performance

PBYI stock opened at $5.70 on Friday. The company has a market capitalization of $287.22 million, a PE ratio of 9.34 and a beta of 1.22. Puma Biotechnology has a one year low of $2.58 and a one year high of $7.68. The company’s 50 day moving average price is $6.50 and its two-hundred day moving average price is $5.59.

Puma Biotechnology (NASDAQ:PBYIGet Free Report) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $75.50 million for the quarter, compared to analyst estimates of $68.60 million. Puma Biotechnology had a net margin of 13.62% and a return on equity of 29.42%. On average, research analysts predict that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Activity at Puma Biotechnology

In related news, CEO Alan H. Auerbach sold 18,012 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 value of $105,910.56. Following the sale, the chief executive officer owned 7,145,951 shares in the company, valued at $42,018,191.88. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas M. Hunt sold 5,014 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 $29,482.32. Following the completion of the transaction, the insider owned 155,907 shares of the company’s stock, valued at $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,937 shares of company stock worth $257,513 over the last three months. Insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Invesco Ltd. boosted its position in Puma Biotechnology by 69.7% during the 4th quarter. Invesco Ltd. now owns 108,301 shares of the biopharmaceutical company’s stock valued at $644,000 after acquiring an additional 44,484 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Puma Biotechnology by 55.7% in the 4th quarter. Empowered Funds LLC now owns 186,185 shares of the biopharmaceutical company’s stock valued at $1,108,000 after purchasing an additional 66,624 shares during the period. Stokes Family Office LLC bought a new stake in shares of Puma Biotechnology during the fourth quarter valued at approximately $167,000. Verdad Advisers LP purchased a new stake in Puma Biotechnology in the fourth quarter worth $330,000. Finally, Man Group plc purchased a new stake in Puma Biotechnology in the fourth quarter worth $282,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Puma Biotechnology News Roundup

Here are the key news stories impacting Puma Biotechnology this week:

Puma Biotechnology Company Profile

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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.

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