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

Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Separately, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a report on Friday, August 2nd.

Puma Biotechnology Stock Down 24.8 %

Shares of NASDAQ:PBYI opened at $2.72 on Tuesday. The firm has a market cap of $133.17 million, a P/E ratio of 8.23 and a beta of 1.09. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Puma Biotechnology has a 12 month low of $2.13 and a 12 month high of $7.73. The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $4.57.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $47.10 million for the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. During the same quarter last year, the firm earned $0.05 EPS. As a group, research analysts forecast that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the transaction, the director now owns 47,000 shares of the company’s stock, valued at $164,030. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.49, for a total transaction of $81,519.42. Following the sale, the director now directly owns 47,000 shares in the company, valued at $164,030. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 21,920 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the completion of the sale, the chief executive officer now owns 7,063,515 shares in the company, valued at $26,135,005.50. The disclosure for this sale can be found here. Insiders sold a total of 109,263 shares of company stock valued at $376,379 over the last quarter. 23.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in shares of Puma Biotechnology by 2.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock valued at $10,366,000 after purchasing an additional 39,239 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Puma Biotechnology by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,753,013 shares of the biopharmaceutical company’s stock worth $5,715,000 after acquiring an additional 23,600 shares during the period. Great Point Partners LLC grew its stake in shares of Puma Biotechnology by 10.6% during the 2nd quarter. Great Point Partners LLC now owns 1,486,544 shares of the biopharmaceutical company’s stock worth $4,846,000 after acquiring an additional 142,916 shares during the period. American Century Companies Inc. grew its stake in shares of Puma Biotechnology by 98.5% during the 2nd quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock worth $2,409,000 after acquiring an additional 366,653 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Puma Biotechnology by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 605,977 shares of the biopharmaceutical company’s stock worth $1,975,000 after purchasing an additional 37,684 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

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 and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.