Key Points
- Director Alessandra Cesano sold 62,150 Puma Biotechnology shares at an average price of $9.12, generating $566,808 and reducing her direct ownership by 52.29% to 56,700 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Puma Biotechnology reported quarterly EPS of $0.19, beating the $0.04 analyst consensus, while revenue of $56.5 million exceeded expectations of $53 million.
- PBYI shares opened at $9.39, near their 52-week high of $9.73. Analysts maintain a consensus “Hold” rating with an average price target of $6.00, despite 61.29% institutional ownership.
Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) Director Troy Wilson sold 5,000 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $9.10, for a total transaction of $45,500.00. Following the sale, the director directly owned 54,750 shares in the company, valued at $498,225. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Puma Biotechnology Price Performance
NASDAQ PBYI opened at $9.39 on Thursday. The firm has a market cap of $484.71 million, a PE ratio of 18.06 and a beta of 1.24. The stock's 50 day simple moving average is $8.71 and its 200 day simple moving average is $7.65. Puma Biotechnology, Inc. has a one year low of $4.30 and a one year high of $9.73.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.15. Puma Biotechnology had a net margin of 11.50% and a return on equity of 20.76%. The business had revenue of $56.50 million for the quarter, compared to the consensus estimate of $53.00 million. As a group, equities analysts expect that Puma Biotechnology, Inc. will post 0.37 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Puma Biotechnology from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. TD Cowen upped their price objective on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.00.
View Our Latest Research Report on PBYI
Institutional Investors Weigh In On Puma Biotechnology
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC acquired a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $138,000. Wellington Management Group LLP bought a new position in shares of Puma Biotechnology during the second quarter worth about $1,023,000. Empowered Funds LLC bought a new position in shares of Puma Biotechnology during the second quarter worth about $1,787,000. Philadelphia Investment Partners LLC acquired a new stake in Puma Biotechnology in the 2nd quarter valued at approximately $65,000. Finally, Bank of America Corp DE acquired a new stake in Puma Biotechnology in the 2nd quarter valued at approximately $257,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Puma Biotechnology Company Profile
(
Get Free Report)
Puma Biotechnology, Inc is a biopharmaceutical company focused on developing and commercializing medicines for the treatment of cancer. The company's primary product is NERLYNX (neratinib), an oral tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.
In the United States, NERLYNX is approved for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following postoperative trastuzumab-based therapy.
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