An interesting stock that came up in some of our conversations today is Puma Biotechnology, Inc. (NASDAQ:PBYI). At current price of $9.27, the shares have already added 0.46 points (5.22% higher) from its previous close of $8.81. Should you buy or avoid them? The stock sets an active trading volume day with a reported 223990 contracts so far this session. PBYI shares had a relatively better volume day versus average trading capacity of 1.39 million shares, but with a 34.28 million float and a -8.7% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PBYI stock indicates that the average analyst price target is $21.86 per share. This means the stock has a potential increase of 135.81% from where the PBYI share price has been trading recently which is between $8.7 and $9.08. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $16.
The shorts are climbing into Puma Biotechnology, Inc. (PBYI) stock. The latest set of short interest data was released on 15 July 2019, and the numbers show a rise in short interest in PBYI shares. While short interest still represents only 22.01% of PBYI’s float, the number of shares shorted have risen by 704044. The number of shares shorted advanced to 7542757 shares, up from 6838713 shares during the preceding fortnight. With average daily trading volumes at 992319 shares, days to cover increased to about 3.904458 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Here’s Why Puma Biotechnology Fell 24.1% in July” and dated August 07, 2019.
During the recent trading session for Puma Biotechnology, Inc. (NASDAQ:PBYI), the company witnessed their stock drop by $-0.19 over a week and tumble down $-2.53 from the price 20 days ago. When compared to their established 52-week high of $54.2, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/08/18. The recent low of $8.45 stood for a -82.9% since 05/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.65 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Puma Biotechnology, Inc., the two-week RSI stands at 36.13. This figure suggests that PBYI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PBYI readings is similarly very revealing as it has a stochastic reading of 28.94% at this stage. This figure means that PBYI share price today is being overbought.
Technical chart claims that Puma Biotechnology, Inc. (PBYI) would settle between $9.03/share to $9.24/share level. However, if the stock price goes below the $8.65 mark, then the market for Puma Biotechnology, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $8.48 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.14. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup lowered their recommendation on shares of PBYI from Buy to Neutral in their opinion released on May 10. Cantor Fitzgerald analysts have lowered their rating of Puma Biotechnology, Inc. (NASDAQ:PBYI) stock from Overweight to Neutral in a separate flash note issued to investors on May 10. Analysts at Leerink Partners, made their first call for the equity with a Mkt Perform recommendation, according to a research note that dated back to January 17.
PBYI equity has an average rating of 3.22, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated Puma Biotechnology, Inc. (NASDAQ:PBYI) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Puma Biotechnology, Inc. (PBYI)’s current-quarter revenues are projected to climb by nearly 4.72% to hit $53.2 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 15.95% from $251000 to a noteworthy $291040. At the other end of the current quarter income statement, Puma Biotechnology, Inc. is expected to see its adjusted earnings surge by roughly -52.54% to hit $-0.9 per share. For the fiscal year, PBYI’s earnings are projected to climb by roughly 16.72% to hit $-2.49 per share.