Puma Biotechnology (NASDAQ:PBYI) Given “Buy” Rating at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $7.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 123.64% from the stock’s current price.

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

Puma Biotechnology Price Performance

Puma Biotechnology stock traded up $0.10 during trading hours on Friday, hitting $3.13. The stock had a trading volume of 698,254 shares, compared to its average volume of 451,997. Puma Biotechnology has a 1-year low of $2.22 and a 1-year high of $7.73. The stock has a market capitalization of $153.53 million, a price-to-earnings ratio of 16.11 and a beta of 1.09. The stock’s fifty day moving average is $2.66 and its two-hundred day moving average is $3.34. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23.

Insider Buying and Selling

In other news, Director Michael Patrick Miller sold 23,358 shares of the firm’s stock in a transaction 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 owns 47,000 shares in the company, valued at $164,030. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PBYI. Prospera Financial Services Inc raised its stake in shares of Puma Biotechnology by 12.9% in the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company’s stock valued at $431,000 after acquiring an additional 19,315 shares during the period. Royce & Associates LP grew its stake in shares of Puma Biotechnology by 71.8% in the third quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 8,427 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Puma Biotechnology by 111.9% during the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 18,532 shares during the period. Los Angeles Capital Management LLC acquired a new position in Puma Biotechnology during the 3rd quarter worth approximately $627,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in 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 period. Hedge funds and other 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.