Puma Biotechnology, Inc. (PBYI) saw a big move last session, as the company’s shares fell around 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for PBYI, as the stock is now down over 40% in the past one-month time frame.
A number of lawsuits have been filed against the company by the investors who purchased Puma Biotechnology’s shares between Jul 23, 2014 and May 13, 2015. The company has been accused of alleged violations of Federal Securities Laws with respect to certain false and misleading statements made during the aforementioned time period.
This biotechnology homebuilding company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PBYI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Siemens Cambrex Corporation. (CBM), holding a Zacks Rank #1 (Strong Buy).
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