State Street Corp Boosts Stock Holdings in Puma Biotechnology, Inc. (NASDAQ:PBYI)

State Street Corp boosted its position in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 17.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 601,542 shares of the biopharmaceutical company’s stock after purchasing an additional 87,504 shares during the period. State Street Corp’s holdings in Puma Biotechnology were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PBYI. BNP Paribas Financial Markets grew its stake in shares of Puma Biotechnology by 2,002.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 67,702 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 64,482 shares during the period. FMR LLC lifted its holdings in Puma Biotechnology by 27.1% during the third quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 25,183 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new position in Puma Biotechnology during the third quarter worth about $276,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Puma Biotechnology in the third quarter worth about $44,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Puma Biotechnology by 3.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company’s stock valued at $940,000 after purchasing an additional 13,941 shares during the period. 61.29% of the stock is currently owned by institutional investors.

Puma Biotechnology Stock Down 2.6 %

PBYI stock opened at $3.05 on Thursday. Puma Biotechnology, Inc. has a twelve month low of $2.22 and a twelve month high of $7.73. The firm has a market capitalization of $149.72 million, a PE ratio of 6.35 and a beta of 1.08. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $2.98 and a two-hundred day simple moving average of $2.98.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The company had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, equities analysts predict that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PBYI has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a report on Monday, December 23rd. StockNews.com lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

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.