Puma Biotechnology (PBYI) Lowered to “Equal Weight” at Barclays

Barclays lowered shares of Puma Biotechnology (NASDAQ:PBYI) from an overweight rating to an equal weight rating in a research report released on Thursday morning, MarketBeat.com reports. Barclays currently has $90.00 price target on the biopharmaceutical company’s stock.

PBYI has been the subject of several other reports. Cowen cut shares of Puma Biotechnology from an outperform rating to a market perform rating and decreased their target price for the stock from $123.00 to $68.00 in a report on Wednesday, January 24th. Credit Suisse Group set a $106.00 target price on shares of Puma Biotechnology and gave the stock a buy rating in a report on Friday, March 2nd. BidaskClub upgraded shares of Puma Biotechnology from a hold rating to a buy rating in a report on Saturday, February 17th. Zacks Investment Research cut shares of Puma Biotechnology from a hold rating to a sell rating in a report on Monday, January 15th. Finally, Stifel Nicolaus set a $95.00 target price on shares of Puma Biotechnology and gave the stock a buy rating in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $103.11.

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NASDAQ:PBYI opened at $66.40 on Thursday. Puma Biotechnology has a twelve month low of $28.35 and a twelve month high of $136.90. The stock has a market cap of $2,530.99, a PE ratio of -8.46 and a beta of 0.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.82 and a quick ratio of 1.79.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($1.71) EPS for the quarter, topping the consensus estimate of ($1.98) by $0.27. The firm had revenue of $21.60 million during the quarter, compared to analyst estimates of $20.83 million. During the same quarter in the previous year, the business earned ($1.22) earnings per share. equities research analysts expect that Puma Biotechnology will post -4.07 earnings per share for the current year.

In other news, SVP Richard Paul Bryce sold 1,860 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $172,515.00. Following the completion of the sale, the senior vice president now directly owns 25,379 shares of the company’s stock, valued at $2,353,902.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan H. Auerbach sold 10,692 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total transaction of $991,683.00. Following the completion of the sale, the insider now directly owns 4,155,931 shares of the company’s stock, valued at $385,462,600.25. The disclosure for this sale can be found here. 21.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in shares of Puma Biotechnology by 9.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 135,167 shares of the biopharmaceutical company’s stock worth $16,187,000 after purchasing an additional 11,787 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Puma Biotechnology by 38.9% in the third quarter. New York State Common Retirement Fund now owns 44,792 shares of the biopharmaceutical company’s stock worth $5,364,000 after purchasing an additional 12,545 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Puma Biotechnology by 314.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,129 shares of the biopharmaceutical company’s stock worth $1,001,000 after purchasing an additional 7,683 shares in the last quarter. AXA purchased a new stake in shares of Puma Biotechnology in the fourth quarter worth approximately $1,052,000. Finally, Rice Hall James & Associates LLC lifted its position in shares of Puma Biotechnology by 355.7% in the fourth quarter. Rice Hall James & Associates LLC now owns 106,272 shares of the biopharmaceutical company’s stock worth $10,505,000 after purchasing an additional 82,953 shares in the last quarter. 95.95% of the stock is owned by institutional investors and hedge funds.

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About Puma Biotechnology

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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