Puma Biotechnology Inc (PBYI) Stake Lessened by Partner Investment Management L.P.
Partner Investment Management L.P. lessened its stake in Puma Biotechnology Inc (NASDAQ:PBYI) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,694 shares of the biopharmaceutical company’s stock after selling 3,460 shares during the quarter. Puma Biotechnology accounts for approximately 1.1% of Partner Investment Management L.P.’s holdings, making the stock its 26th biggest position. Partner Investment Management L.P.’s holdings in Puma Biotechnology were worth $1,402,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Puma Biotechnology in the 2nd quarter worth about $289,000. Macquarie Group Ltd. purchased a new position in Puma Biotechnology in the 2nd quarter worth about $27,964,000. Caption Management LLC purchased a new position in Puma Biotechnology in the 2nd quarter worth about $1,511,000. Proxima Capital Management LLC raised its position in Puma Biotechnology by 56.7% in the 2nd quarter. Proxima Capital Management LLC now owns 47,000 shares of the biopharmaceutical company’s stock worth $2,780,000 after buying an additional 17,000 shares during the last quarter. Finally, Raymond James & Associates raised its position in Puma Biotechnology by 75.2% in the 2nd quarter. Raymond James & Associates now owns 7,693 shares of the biopharmaceutical company’s stock worth $455,000 after buying an additional 3,303 shares during the last quarter. 92.38% of the stock is owned by hedge funds and other institutional investors.
PBYI has been the subject of a number of recent analyst reports. Citigroup boosted their target price on Puma Biotechnology from $146.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, June 28th. BidaskClub raised Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, June 20th. JPMorgan Chase & Co. boosted their target price on Puma Biotechnology from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Cowen reissued a “hold” rating and issued a $80.00 target price on shares of Puma Biotechnology in a research report on Friday, August 10th. Finally, ValuEngine lowered Puma Biotechnology from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.40.
Shares of NASDAQ:PBYI opened at $49.70 on Thursday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.33 and a beta of -0.22. Puma Biotechnology Inc has a fifty-two week low of $40.45 and a fifty-two week high of $136.90. The company has a quick ratio of 2.64, a current ratio of 2.68 and a debt-to-equity ratio of 3.14.
Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.26) by $0.09. The business had revenue of $50.80 million during the quarter, compared to the consensus estimate of $45.67 million. Puma Biotechnology had a negative return on equity of 367.92% and a negative net margin of 146.27%. During the same period in the previous year, the company posted ($1.38) EPS. sell-side analysts forecast that Puma Biotechnology Inc will post -3.86 earnings per share for the current year.
Puma Biotechnology Profile
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)).
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