Puma Biotechnology (PBYI) PT Set at $68.00 by Cowen

Puma Biotechnology (NASDAQ:PBYI) has been assigned a $68.00 target price by stock analysts at Cowen in a report issued on Friday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Cowen’s target price indicates a potential upside of 238.81% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Puma Biotechnology from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $83.00 to $23.00 in a report on Friday. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 price objective (down previously from $75.00) on shares of Puma Biotechnology in a report on Friday. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, October 10th. ValuEngine upgraded shares of Puma Biotechnology from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, BidaskClub cut shares of Puma Biotechnology from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. Six research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.45.

Shares of PBYI stock traded down $18.53 during trading on Friday, reaching $20.07. The company’s stock had a trading volume of 20,801,197 shares, compared to its average volume of 872,735. The company has a debt-to-equity ratio of 3.14, a quick ratio of 2.64 and a current ratio of 2.68. Puma Biotechnology has a 1-year low of $17.60 and a 1-year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.60. The firm had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.94 million. Puma Biotechnology had a negative net margin of 73.45% and a negative return on equity of 295.69%. The business’s quarterly revenue was up 926.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.36) earnings per share. On average, equities analysts predict that Puma Biotechnology will post -3.84 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PBYI. Macquarie Group Ltd. acquired a new position in Puma Biotechnology during the 2nd quarter worth approximately $27,964,000. Jennison Associates LLC grew its holdings in Puma Biotechnology by 95.9% during the 2nd quarter. Jennison Associates LLC now owns 950,998 shares of the biopharmaceutical company’s stock worth $56,252,000 after acquiring an additional 465,453 shares in the last quarter. Millennium Management LLC grew its holdings in Puma Biotechnology by 168.7% during the 2nd quarter. Millennium Management LLC now owns 546,630 shares of the biopharmaceutical company’s stock worth $32,333,000 after acquiring an additional 343,180 shares in the last quarter. Redwood Investments LLC grew its holdings in Puma Biotechnology by 79.3% during the 2nd quarter. Redwood Investments LLC now owns 349,260 shares of the biopharmaceutical company’s stock worth $20,659,000 after acquiring an additional 154,487 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Puma Biotechnology by 5.7% during the 2nd quarter. BlackRock Inc. now owns 2,505,710 shares of the biopharmaceutical company’s stock worth $148,211,000 after acquiring an additional 135,996 shares in the last quarter. Institutional investors own 92.47% of the company’s stock.

About Puma Biotechnology

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)).

See Also: Exchange-Traded Funds (ETFs)

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply