HC Wainwright Reiterates “Buy” Rating for Puma Biotechnology (NASDAQ:PBYI)

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 140.55% from the stock’s previous close.

Separately, StockNews.com raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th.

Puma Biotechnology Price Performance

Shares of Puma Biotechnology stock opened at $2.91 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. Puma Biotechnology has a fifty-two week low of $2.22 and a fifty-two week high of $7.73. The firm has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $3.20. The company has a market cap of $142.85 million, a PE ratio of 6.06 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The company had revenue of $80.50 million during the quarter, compared to the consensus estimate of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same period last year, the firm earned $0.12 EPS. Analysts expect that Puma Biotechnology will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Puma Biotechnology

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Puma Biotechnology during the 3rd quarter worth about $68,000. Barclays PLC increased its position in shares of Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 46,370 shares in the last quarter. Jane Street Group LLC increased its position in shares of Puma Biotechnology by 103.9% during the 3rd quarter. Jane Street Group LLC now owns 32,129 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 16,374 shares in the last quarter. State Street Corp increased its position in shares of Puma Biotechnology by 17.0% during the 3rd quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company’s stock worth $1,534,000 after purchasing an additional 87,504 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Puma Biotechnology by 2,002.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 67,702 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 64,482 shares in the last quarter. 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.