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

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 134.11% from the company’s current price.

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

Puma Biotechnology Stock Up 7.9 %

PBYI stock opened at $2.99 on Friday. The firm has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $2.86. 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 1-year low of $2.22 and a 1-year high of $7.15. The firm has a market cap of $146.77 million, a price-to-earnings ratio of 6.23 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.29. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The business had revenue of $59.10 million during the quarter, compared to analyst estimates of $52.50 million. Research analysts predict that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Transactions at Puma Biotechnology

In other news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $29,726.55. Following the transaction, the insider now directly owns 108,951 shares of the company’s stock, valued at approximately $343,195.65. This trade represents a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $106,599.15. Following the sale, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in shares of Puma Biotechnology in the 4th quarter worth approximately $240,000. Two Sigma Investments LP raised its holdings in Puma Biotechnology by 266.2% during the fourth quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 131,916 shares in the last quarter. Two Sigma Advisers LP lifted its position in Puma Biotechnology by 22.3% in the fourth quarter. Two Sigma Advisers LP now owns 196,900 shares of the biopharmaceutical company’s stock worth $601,000 after purchasing an additional 35,900 shares during the period. ProShare Advisors LLC bought a new position in Puma Biotechnology during the 4th quarter valued at $36,000. Finally, Nuveen Asset Management LLC boosted its stake in Puma Biotechnology by 41.4% during the 4th quarter. Nuveen Asset Management LLC now owns 79,101 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 23,179 shares in the last quarter. Institutional investors and hedge funds 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.