Puma Biotechnology Inc (NYSE:PBYI) Announces Quarterly Earnings Results
Puma Biotechnology Inc (NYSE:PBYI) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78, Bloomberg Earnings reports.
Shares of Puma Biotechnology (NYSE PBYI) traded down 9.43% during trading on Thursday, hitting $72.00. The stock had a trading volume of 1,478,353 shares. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $98.85. The firm has a 50 day moving average of $88.81 and a 200 day moving average of $56.00. The company’s market capitalization is $2.66 billion.
Several analysts have issued reports on the company. Citigroup Inc upgraded Puma Biotechnology to a “buy” rating and set a $105.00 price objective on the stock in a report on Sunday, May 28th. BidaskClub downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus restated a “buy” rating and set a $110.00 price objective (down previously from $118.00) on shares of Puma Biotechnology in a report on Thursday. Royal Bank Of Canada boosted their price objective on Puma Biotechnology from $40.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Puma Biotechnology in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Puma Biotechnology has an average rating of “Buy” and an average target price of $102.55.
In other news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $75.38, for a total transaction of $93,147,066.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the sale, the insider now directly owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,010,261 shares of company stock worth $159,425,452. Company insiders own 22.70% of the company’s stock.
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.
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