Key Points
- Director Michael Patrick Miller sold 15,000 shares for $121,500 at an average price of $8.10, reducing his direct stake by 18.52% to 66,000 shares.
- Puma shares fell 3.8% to $7.77. Quarterly EPS of $0.15 beat estimates of $0.09, while revenue of $55.06 million came in below the $57.50 million forecast.
- Analysts have a consensus Hold rating and a $6.00 price target; institutional investors own 61.29% of the company’s shares.
Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) Director Michael Miller sold 15,000 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $8.10, for a total transaction of $121,500.00. Following the completion of the sale, the director directly owned 66,000 shares in the company, valued at approximately $534,600. The trade was a 18.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Puma Biotechnology Trading Down 3.8%
Shares of PBYI stock traded down $0.31 during trading hours on Friday, reaching $7.77. The stock had a trading volume of 403,672 shares, compared to its average volume of 469,587. The stock's fifty day simple moving average is $9.75 and its 200 day simple moving average is $8.02. Puma Biotechnology, Inc. has a 12 month low of $4.76 and a 12 month high of $11.50. The firm has a market capitalization of $401.69 million, a PE ratio of 16.89 and a beta of 1.40.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last posted its earnings results on Thursday, November 5th. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.06. The business had revenue of $55.06 million for the quarter, compared to analyst estimates of $57.50 million. Puma Biotechnology had a net margin of 10.26% and a return on equity of 17.50%. As a group, equities research analysts anticipate that Puma Biotechnology, Inc. will post 0.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on PBYI. Wall Street Zen lowered shares of Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research report on Saturday. TD Cowen increased their price objective on Puma Biotechnology from $5.00 to $6.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded Puma Biotechnology from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.00.
Read Our Latest Analysis on PBYI
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at about $30,856,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Puma Biotechnology in the 2nd quarter worth approximately $5,214,000. Globeflex Capital L P bought a new stake in Puma Biotechnology in the 2nd quarter worth approximately $3,105,000. Bank of New York Mellon Corp bought a new stake in Puma Biotechnology in the 2nd quarter worth approximately $2,926,000. Finally, Empowered Funds LLC boosted its stake in Puma Biotechnology by 135.5% in the third quarter. Empowered Funds LLC now owns 518,809 shares of the biopharmaceutical company's stock worth $5,152,000 after buying an additional 298,493 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company's stock.
About Puma Biotechnology
(
Get Free Report)
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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