Puma Biotechnology (NASDAQ:PBYI) Upgraded at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a research note released on Wednesday.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, August 2nd.

Puma Biotechnology Stock Performance

NASDAQ:PBYI opened at $2.95 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. Puma Biotechnology has a fifty-two week low of $2.21 and a fifty-two week high of $7.73. The firm has a market cap of $144.70 million, a PE ratio of 15.53 and a beta of 1.09. The business has a 50 day moving average price of $2.60 and a 200-day moving average price of $3.49.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. The business had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $43.99 million. During the same quarter in the prior year, the company posted $0.05 EPS. Equities research analysts predict that Puma Biotechnology will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of Puma Biotechnology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.49, for a total transaction of $81,519.42. Following the sale, the director now directly owns 47,000 shares in the company, valued at $164,030. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Puma Biotechnology during the 3rd quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 8,000 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $54,000. The Manufacturers Life Insurance Company bought a new stake in shares of Puma Biotechnology during the 2nd quarter valued at about $58,000. Finally, Rhumbline Advisers increased its position in shares of Puma Biotechnology by 2,309.9% during the 2nd quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 48,184 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors.

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.