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Goldman Sachs Group Upgrades Puma Biotechnology (PBYI) to Neutral

Puma Biotechnology (NASDAQ:PBYI) was upgraded by equities research analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other equities analysts have also commented on PBYI. BidaskClub lowered Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Cowen reissued a “hold” rating and issued a $80.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 10th. JPMorgan Chase & Co. boosted their price objective on Puma Biotechnology from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Guggenheim initiated coverage on Puma Biotechnology in a research note on Monday, September 17th. They issued a “buy” rating on the stock. Finally, Citigroup reduced their price objective on Puma Biotechnology from $164.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, September 18th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $72.45.

Shares of PBYI stock opened at $23.58 on Monday. The company has a current ratio of 3.01, a quick ratio of 2.96 and a debt-to-equity ratio of 2.64. The firm has a market capitalization of $899.22 million, a P/E ratio of -3.00 and a beta of 0.42. Puma Biotechnology has a one year low of $17.60 and a one year high of $108.50.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.97) by $0.60. The business had revenue of $62.60 million for 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%. Puma Biotechnology’s quarterly revenue was up 926.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.36) EPS. Research analysts expect that Puma Biotechnology will post -3.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of PBYI. Northern Trust Corp increased its holdings in Puma Biotechnology by 1.9% in the second quarter. Northern Trust Corp now owns 348,150 shares of the biopharmaceutical company’s stock valued at $20,593,000 after purchasing an additional 6,536 shares during the last quarter. BlackRock Inc. increased its holdings in Puma Biotechnology by 5.7% in the second quarter. BlackRock Inc. now owns 2,505,710 shares of the biopharmaceutical company’s stock valued at $148,211,000 after purchasing an additional 135,996 shares during the last quarter. FMR LLC increased its holdings in Puma Biotechnology by 8.3% in the second quarter. FMR LLC now owns 1,720,294 shares of the biopharmaceutical company’s stock valued at $101,756,000 after purchasing an additional 132,205 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in Puma Biotechnology by 3.8% in the second quarter. State of Wisconsin Investment Board now owns 29,700 shares of the biopharmaceutical company’s stock valued at $1,757,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Capital Impact Advisors LLC increased its holdings in Puma Biotechnology by 8.0% in the third quarter. Capital Impact Advisors LLC now owns 39,209 shares of the biopharmaceutical company’s stock valued at $1,796,000 after purchasing an additional 2,912 shares during the last quarter. 88.01% of the stock is currently owned by institutional investors and hedge funds.

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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