Puma Biotechnology (NASDAQ:PBYI) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research report released on Friday,Benzinga reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st.

Puma Biotechnology Trading Down 5.0 %

Shares of Puma Biotechnology stock traded down $0.15 during trading on Friday, hitting $2.88. The company’s stock had a trading volume of 1,449,873 shares, compared to its average volume of 455,458. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. Puma Biotechnology has a 52 week low of $2.22 and a 52 week high of $7.73. The stock has a market cap of $141.26 million, a price-to-earnings ratio of 6.00 and a beta of 1.09. The stock has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $3.32.

Insider Buying and Selling at Puma Biotechnology

In other news, Director Michael Patrick Miller sold 23,358 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the transaction, the director now owns 47,000 shares in the company, valued at approximately $164,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors have recently made changes to their positions in PBYI. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the third quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Puma Biotechnology by 72.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 8,000 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 8,427 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Puma Biotechnology in the 2nd quarter worth about $54,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Puma Biotechnology in the 2nd quarter worth about $58,000. Institutional investors and hedge funds own 61.29% of the company’s stock.

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.