Puma Biotechnology (NASDAQ:PBYI) Stock Rating Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Puma Biotechnology from “strong buy” to “buy.” Across analysts, the stock has an average “hold” rating and a consensus price target of $6.
• Puma reported quarterly EPS of $0.15, beating the $0.09 estimate, but revenue of $55.06 million fell short of the $57.50 million consensus.
• Company insiders sold 82,150 shares worth about $733,808 over the past 90 days.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other brokerages have also recently issued reports on PBYI. TD Cowen boosted their price objective on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 7th. Weiss Ratings downgraded Puma Biotechnology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Puma Biotechnology presently has an average rating of "Hold" and a consensus target price of $6.00.

Puma Biotechnology Stock Down 3.8%

NASDAQ PBYI opened at $7.77 on Friday. The firm has a market cap of $401.69 million, a P/E ratio of 16.89 and a beta of 1.40. Puma Biotechnology has a 52-week low of $4.76 and a 52-week high of $11.50. The business's 50-day moving average price is $9.75 and its 200 day moving average price is $8.02.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. Puma Biotechnology had a return on equity of 17.50% and a net margin of 10.26%. The firm had revenue of $55.06 million during the quarter, compared to the consensus estimate of $57.50 million. As a group, analysts anticipate that Puma Biotechnology will post 0.37 earnings per share for the current year.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, Director Michael Miller sold 15,000 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $8.10, for a total transaction of $121,500.00. Following the sale, the director owned 66,000 shares in the company, valued at approximately $534,600. This represents a 18.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alessandra Cesano sold 62,150 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $9.12, for a total value of $566,808.00. Following the transaction, the director directly owned 56,700 shares of the company's stock, valued at $517,104. The trade was a 52.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 82,150 shares of company stock valued at $733,808. 22.20% of the stock is owned by corporate insiders.

Institutional Trading of Puma Biotechnology

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Puma Biotechnology by 135.5% during the 3rd quarter. Empowered Funds LLC now owns 518,809 shares of the biopharmaceutical company's stock worth $5,152,000 after purchasing an additional 298,493 shares in the last quarter. First Trust Advisors LP raised its stake in Puma Biotechnology by 32.6% in the 3rd quarter. First Trust Advisors LP now owns 172,627 shares of the biopharmaceutical company's stock valued at $1,714,000 after purchasing an additional 42,421 shares during the last quarter. Royce & Associates LP acquired a new position in Puma Biotechnology in the 3rd quarter valued at about $134,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Puma Biotechnology in the 3rd quarter valued at about $26,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Puma Biotechnology by 16.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,419 shares of the biopharmaceutical company's stock valued at $92,000 after purchasing an additional 1,318 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company's stock.

About Puma Biotechnology

Puma Biotechnology is a biopharmaceutical company focused on developing and commercializing medicines for cancer treatment. Its work centers on targeted therapies, particularly treatments for breast cancer. The company's principal product is Nerlynx (neratinib), an oral HER2-targeted medicine. In the United States, it is approved for certain patients with early-stage HER2-positive breast cancer following trastuzumab-based treatment, and for some patients with advanced or metastatic HER2-positive breast cancer in combination with capecitabine.

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