Biotechnology

HC Wainwright Lowers Puma Biotechnology (NASDAQ:PBYI) Price Target to $8.00

Puma Biotechnology (NASDAQ:PBYIGet Rating) had its price objective dropped by research analysts at HC Wainwright from $12.00 to $8.00 in a research note issued to investors on Friday, The Fly reports. HC Wainwright’s price target suggests a potential upside of 122.22% from the stock’s current price.

Puma Biotechnology Stock Performance

NASDAQ:PBYI traded up $0.33 on Friday, hitting $3.60. The company’s stock had a trading volume of 4,016 shares, compared to its average volume of 217,538. The company has a current ratio of 1.57, a quick ratio of 1.47 and a debt-to-equity ratio of 13.63. The stock has a fifty day moving average of $2.80 and a two-hundred day moving average of $2.60. The firm has a market capitalization of $161.89 million, a P/E ratio of -2.72 and a beta of 0.66. Puma Biotechnology has a one year low of $1.60 and a one year high of $7.84.

Puma Biotechnology (NASDAQ:PBYIGet Rating) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. Puma Biotechnology had a negative return on equity of 843.16% and a negative net margin of 24.42%. The company had revenue of $45.70 million for the quarter, compared to the consensus estimate of $45.07 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was down 53.5% on a year-over-year basis. Research analysts predict that Puma Biotechnology will post 0.04 earnings per share for the current year.

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In other news, CEO Alan H. Auerbach sold 26,140 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $2.63, for a total value of $68,748.20. Following the transaction, the chief executive officer now owns 6,317,952 shares of the company’s stock, valued at $16,616,213.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Troy Edward Wilson sold 27,858 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $2.58, for a total transaction of $71,873.64. Following the sale, the director now owns 27,350 shares of the company’s stock, valued at $70,563. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Auerbach sold 26,140 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $2.63, for a total value of $68,748.20. Following the sale, the chief executive officer now directly owns 6,317,952 shares in the company, valued at approximately $16,616,213.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,372 shares of company stock valued at $174,913. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Puma Biotechnology

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at $751,000. Dupont Capital Management Corp acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at $216,000. Assenagon Asset Management S.A. acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at $1,153,000. New York State Common Retirement Fund boosted its holdings in shares of Puma Biotechnology by 49.1% in the 4th quarter. New York State Common Retirement Fund now owns 28,399 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 9,358 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Puma Biotechnology by 13.2% in the 4th quarter. Principal Financial Group Inc. now owns 50,445 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 5,883 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Puma Biotechnology Company Profile

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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’s drug candidates include PB272 neratinib (oral) for the patients with early stage HER2-overexpressed/amplified breast cancer; PB272 (neratinib, oral) for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; PB272 (neratinib, oral) for HER2 mutation-positive solid tumors.

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