Puma Biotechnology (NASDAQ:PBYI) had its price objective hoisted by Royal Bank of Canada to $26.00 in a research note issued to investors on Thursday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on PBYI. Cowen reaffirmed a hold rating and issued a $80.00 price objective on shares of Puma Biotechnology in a report on Friday, August 10th. JPMorgan Chase & Co. lifted their target price on Puma Biotechnology from $80.00 to $83.00 and gave the company a buy rating in a research report on Friday, August 10th. BidaskClub downgraded Puma Biotechnology from a sell rating to a strong sell rating in a research report on Wednesday, August 15th. Goldman Sachs Group began coverage on Puma Biotechnology in a research report on Monday, September 17th. They set a sell rating and a $42.00 target price on the stock. Finally, Guggenheim began coverage on Puma Biotechnology in a research report on Monday, September 17th. They set a buy rating on the stock. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Puma Biotechnology currently has an average rating of Hold and a consensus price target of $66.55.

Shares of Puma Biotechnology stock traded down $0.51 on Thursday, reaching $23.22. The company’s stock had a trading volume of 13,201 shares, compared to its average volume of 792,324. The firm has a market cap of $903.42 million, a price-to-earnings ratio of -2.97 and a beta of 0.22. Puma Biotechnology has a 52 week low of $17.60 and a 52 week high of $108.20. The company has a current ratio of 3.01, a quick ratio of 2.96 and a debt-to-equity ratio of 2.64.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.60. The business had revenue of $62.60 million during the quarter, compared to analyst estimates of $57.94 million. Puma Biotechnology had a negative return on equity of 301.41% and a negative net margin of 73.45%. The company’s quarterly revenue was up 926.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.36) EPS. On average, equities research analysts forecast that Puma Biotechnology will post -3.19 EPS for the current fiscal year.

In other news, insider Charles R. Eyler sold 1,239 shares of Puma Biotechnology stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $22.77, for a total value of $28,212.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 21.50% of the company’s stock.

Several hedge funds have recently modified their holdings of PBYI. Royal Bank of Canada increased its holdings in shares of Puma Biotechnology by 271.3% in the first quarter. Royal Bank of Canada now owns 4,021 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 2,938 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Puma Biotechnology by 107.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 50,399 shares of the biopharmaceutical company’s stock worth $2,981,000 after acquiring an additional 26,120 shares during the last quarter. Jennison Associates LLC increased its stake in Puma Biotechnology by 95.9% during the second quarter. Jennison Associates LLC now owns 950,998 shares of the biopharmaceutical company’s stock worth $56,252,000 after acquiring an additional 465,453 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in Puma Biotechnology by 7.1% during the second quarter. Virginia Retirement Systems ET AL now owns 22,600 shares of the biopharmaceutical company’s stock worth $1,337,000 after acquiring an additional 1,500 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Puma Biotechnology by 3.8% during the second quarter. State of Wisconsin Investment Board now owns 29,700 shares of the biopharmaceutical company’s stock worth $1,757,000 after acquiring an additional 1,100 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Puma Biotechnology Company 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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Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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