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

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 148.23% from the stock’s previous close.

Separately, StockNews.com lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

Puma Biotechnology Trading Up 2.5 %

Shares of PBYI traded up $0.07 during midday trading on Monday, hitting $2.82. 145,123 shares of the stock were exchanged, compared to its average volume of 462,485. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The firm has a market cap of $138.43 million, a P/E ratio of 5.88 and a beta of 1.08. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73. The stock has a fifty day simple moving average of $2.95 and a 200 day simple moving average of $3.00.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The company had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. During the same period last year, the business posted $0.12 EPS. On average, research analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of Puma Biotechnology by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after purchasing an additional 120,104 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in Puma Biotechnology during the 2nd quarter worth about $335,000. Rhumbline Advisers boosted 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 worth $164,000 after acquiring an additional 48,184 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Puma Biotechnology in the 2nd quarter valued at about $54,000. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Puma Biotechnology by 3.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock valued at $472,000 after acquiring an additional 4,686 shares during the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

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.