StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI – Free Report) from a hold rating to a buy rating in a research note published on Friday.
Separately, HC Wainwright reiterated a buy rating and set a $7.00 price objective on shares of Puma Biotechnology in a research report on Friday.
Get Our Latest Research Report on PBYI
Puma Biotechnology Trading Down 4.9 %
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.07). The business had revenue of $72.20 million during the quarter, compared to the consensus estimate of $73.22 million. Puma Biotechnology had a return on equity of 35.49% and a net margin of 6.79%. As a group, equities analysts forecast that Puma Biotechnology will post 0.29 EPS for the current year.
Institutional Investors Weigh In On Puma Biotechnology
Several large investors have recently added to or reduced their stakes in the business. Jump Financial LLC raised its holdings in shares of Puma Biotechnology by 26.6% during the third quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 5,190 shares during the period. Ritholtz Wealth Management acquired a new position in Puma Biotechnology during the 4th quarter worth approximately $66,000. Crestline Management LP boosted its holdings in Puma Biotechnology by 6.5% in the fourth quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock worth $151,000 after acquiring an additional 2,135 shares in the last quarter. Citigroup Inc. acquired a new stake in Puma Biotechnology in the third quarter valued at approximately $262,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Puma Biotechnology by 23.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock valued at $368,000 after acquiring an additional 15,897 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.
About Puma Biotechnology
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.
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