Puma Biotechnology (NASDAQ:PBYI) traded up 5.1% during trading on Tuesday . The company traded as high as $54.80 and last traded at $54.50. 979,569 shares were traded during trading, an increase of 6% from the average session volume of 928,022 shares. The stock had previously closed at $51.85.
A number of equities research analysts recently commented on the stock. Credit Suisse Group set a $106.00 price objective on shares of Puma Biotechnology and gave the stock a “buy” rating in a report on Monday, May 7th. ValuEngine upgraded shares of Puma Biotechnology from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Stifel Nicolaus dropped their price objective on shares of Puma Biotechnology from $95.00 to $87.00 and set a “buy” rating on the stock in a report on Friday. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Monday, May 7th. Finally, JPMorgan Chase dropped their price objective on shares of Puma Biotechnology from $138.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Puma Biotechnology currently has a consensus rating of “Buy” and an average price target of $99.20.
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The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -6.94 and a beta of 0.18. The company has a current ratio of 1.91, a quick ratio of 1.87 and a debt-to-equity ratio of 0.85.
Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.61. The business had revenue of $66.50 million during the quarter, compared to the consensus estimate of $67.33 million. During the same period last year, the business posted ($1.16) EPS. equities analysts predict that Puma Biotechnology will post -3.94 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Puma Biotechnology by 307.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,547 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 1,167 shares in the last quarter. First Republic Investment Management Inc. bought a new position in Puma Biotechnology in the fourth quarter valued at $208,000. Jafra Capital Management LP bought a new position in Puma Biotechnology in the fourth quarter valued at $257,000. Clear Harbor Asset Management LLC bought a new position in Puma Biotechnology in the fourth quarter valued at $288,000. Finally, Xact Kapitalforvaltning AB bought a new position in Puma Biotechnology in the fourth quarter valued at $292,000. 97.57% of the stock is owned by institutional investors and hedge funds.
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)).