Vetr Crowd No Longer Uber-Bearish On Puma Biotech

• Shares of Puma Biotechnology Inc (NYSE: PBYI) plunged nearly 20 percent on Friday.
• The Vetr crowd upgraded its rating on Puma Biotech to two stars out of a possible five from a prior one-star rating.
• The Vetr crowd's less-bearish rating is accompanied by its crowd-sourced price target of $65.10, implying further downside is likely.

Shares of Puma Biotechnology, a bio-pharmaceutical company that develops treatment for cancer hit a new 52-week low of $56.46.

Investors and traders were likely reacting to the company's three-year DFS follow up results from its ExteNET trial with neratinib. The company noted that the trial with neratinib resulted in a 33 percent reduction of risk of invasive disease recurrence or death versus placebo.

As shares of Puma sank on Friday, the Vetr crowd turned slightly less bearish on the company by upgrading its rating to two stars out of a possible five from a prior rating of just one star. Sixty-two percent of the crowd's ratings are bullish, however, the crowd-sourced price target of $65.10 implies a further downside of nearly 6 percent.

Related Link: Tesla Gets Upgraded By Vetr Crowd, Now 3.5-Star Rated

The Vetr crowd's bearish stance towards biopharmaceutical companies that focuses on cancer-related drugs does not extend to some of Puma's peers. For example, Clovis Oncology Inc (NASDAQ: CLVS), a biopharmaceutical company that develops and commercializes anti-cancer agents, is highly regarded by the crowd.

The Vetr crowd rates Clovis' stock a five star out of five rating with a crowd-sourced price target of $40.55, implying an upside just shy of 30 percent. However, it should be noted that only 60 percent of the crowd's ratings are bullish.