StockNews.com Upgrades Puma Biotechnology (NASDAQ:PBYI) to “Strong-Buy”

Puma Biotechnology (NASDAQ:PBYI) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

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

Puma Biotechnology Stock Down 0.4 %

Shares of PBYI opened at $2.80 on Wednesday. The firm has a market cap of $137.34 million, a PE ratio of 14.74 and a beta of 1.09. The company’s fifty day moving average is $2.60 and its two-hundred day moving average is $3.51. Puma Biotechnology has a fifty-two week low of $2.13 and a fifty-two week high of $7.73. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

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

Insider Activity at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of Puma Biotechnology stock in a transaction 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 transaction, the director now owns 47,000 shares in the company, valued at approximately $164,030. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Puma Biotechnology during the first quarter worth about $57,000. Acadian Asset Management LLC raised its stake in Puma Biotechnology by 2.0% during the first quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock worth $10,366,000 after acquiring an additional 39,239 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Puma Biotechnology by 127.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after acquiring an additional 43,229 shares during the period. EntryPoint Capital LLC acquired a new stake in Puma Biotechnology during the first quarter worth about $329,000. Finally, Lazard Asset Management LLC raised its stake in Puma Biotechnology by 5,129.0% during the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 48,520 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

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.