Guggenheim Downgrades Puma Biotechnology (PBYI) to Neutral

Puma Biotechnology (NASDAQ:PBYI) was downgraded by investment analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, January 3rd, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on PBYI. Cantor Fitzgerald upped their target price on shares of Puma Biotechnology to $55.00 in a research report on Tuesday, December 18th. Royal Bank of Canada upped their target price on shares of Puma Biotechnology to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, December 6th. BidaskClub cut shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. ValuEngine raised shares of Puma Biotechnology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.27.

Shares of NASDAQ PBYI opened at $23.39 on Thursday. The stock has a market cap of $904.94 million, a P/E ratio of -2.98 and a beta of 0.13. The company has a debt-to-equity ratio of 2.64, a quick ratio of 2.96 and a current ratio of 3.01. Puma Biotechnology has a 12-month low of $17.60 and a 12-month high of $101.50.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.60. The business had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.94 million. Puma Biotechnology had a negative net margin of 73.45% and a negative return on equity of 301.41%. The firm’s quarterly revenue was up 926.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.36) EPS. On average, sell-side analysts forecast that Puma Biotechnology will post -3.2 earnings per share for the current fiscal year.

In other news, insider Alan H. Auerbach sold 4,424 shares of Puma Biotechnology stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $20.67, for a total transaction of $91,444.08. Following the completion of the sale, the insider now owns 31,333 shares of the company’s stock, valued at $647,653.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles R. Eyler sold 1,239 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $22.77, for a total value of $28,212.03. The disclosure for this sale can be found here. Corporate insiders own 21.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV acquired a new stake in shares of Puma Biotechnology during the third quarter valued at about $101,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Puma Biotechnology during the second quarter valued at about $141,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Puma Biotechnology during the third quarter valued at about $213,000. Pacer Advisors Inc. acquired a new stake in shares of Puma Biotechnology during the third quarter valued at about $251,000. Finally, Marshall Wace LLP acquired a new stake in shares of Puma Biotechnology during the second quarter valued at about $289,000. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Puma Biotechnology Company Profile

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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