Puma Biotechnology (NASDAQ:PBYI) Upgraded to “Strong-Buy” 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 published on Wednesday morning.

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

Puma Biotechnology Trading Down 1.1 %

Shares of PBYI opened at $2.81 on Wednesday. The stock’s fifty day simple moving average is $2.60 and its 200-day simple moving average is $3.51. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $137.83 million, a PE ratio of 14.79 and a beta of 1.09. Puma Biotechnology has a 12-month low of $2.13 and a 12-month high of $7.73.

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

Insider Activity

In other Puma Biotechnology news, Director Michael Patrick Miller sold 23,358 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 approximately $164,030. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 23.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

A number of large investors have recently added to or reduced their stakes in PBYI. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the first quarter worth about $57,000. Victory Capital Management Inc. acquired a new position in Puma Biotechnology during the 2nd quarter worth approximately $54,000. The Manufacturers Life Insurance Company bought a new position in shares of Puma Biotechnology during the 2nd quarter worth approximately $58,000. Lazard Asset Management LLC raised its holdings in shares of Puma Biotechnology by 5,129.0% in the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 48,520 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Puma Biotechnology by 2,309.9% in the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 48,184 shares in the last quarter. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

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.