Puma Biotechnology (NASDAQ:PBYI) had its price objective decreased by research analysts at Barclays from $21.00 to $9.00 in a research note issued on Friday, The Fly reports. The brokerage currently has an “underweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price would suggest a potential downside of 19.35% from the company’s current price.

PBYI has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Puma Biotechnology from $27.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. Cantor Fitzgerald downgraded shares of Puma Biotechnology from an “overweight” rating to a “neutral” rating and cut their price target for the company from $57.00 to $20.00 in a report on Friday, May 10th. Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Cowen restated a “hold” rating and set a $28.00 price target on shares of Puma Biotechnology in a report on Friday, July 5th. Finally, Goldman Sachs Group cut their price target on shares of Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, May 29th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Puma Biotechnology presently has an average rating of “Hold” and an average target price of $24.44.

PBYI stock opened at $11.16 on Friday. Puma Biotechnology has a 12-month low of $8.45 and a 12-month high of $54.20. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.53 and a quick ratio of 2.50. The business has a 50 day moving average of $11.07.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.07). The company had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $53.40 million. Puma Biotechnology had a negative return on equity of 245.22% and a negative net margin of 35.01%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.59) EPS. On average, research analysts expect that Puma Biotechnology will post -2.49 earnings per share for the current fiscal year.

In related news, insider Alan H. Auerbach sold 12,715 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $9.98, for a total value of $126,895.70. Following the transaction, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 14,299 shares of company stock worth $146,360 over the last quarter. 21.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Puma Biotechnology by 4.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 181,507 shares of the biopharmaceutical company’s stock worth $2,307,000 after buying an additional 7,216 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Puma Biotechnology during the second quarter worth approximately $1,417,000. Bank of Montreal Can raised its stake in shares of Puma Biotechnology by 577.6% during the second quarter. Bank of Montreal Can now owns 2,602 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 2,218 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Puma Biotechnology during the second quarter worth approximately $709,000. Finally, Acadian Asset Management LLC raised its stake in shares of Puma Biotechnology by 5,456.6% during the second quarter. Acadian Asset Management LLC now owns 254,714 shares of the biopharmaceutical company’s stock worth $3,236,000 after buying an additional 250,130 shares during the last quarter. Institutional investors own 86.87% of the company’s stock.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. 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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Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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