Puma Biotechnology (NASDAQ:PBYI) Stock Rating Upgraded by StockNews.com

Puma Biotechnology (NASDAQ:PBYI) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

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

Puma Biotechnology Price Performance

PBYI opened at $2.85 on Friday. The stock has a market capitalization of $139.79 million, a P/E ratio of 15.00 and a beta of 1.09. The company’s 50-day simple moving average is $2.61 and its two-hundred day simple moving average is $3.42. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32.

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

Insider Transactions at Puma Biotechnology

In other news, Director Michael Patrick Miller sold 23,358 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total value of $81,519.42. Following the completion of the sale, the director now directly owns 47,000 shares of the company’s stock, valued at $164,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC lifted its holdings in shares of Puma Biotechnology by 3.3% in the second quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after buying an additional 4,686 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Puma Biotechnology by 72.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 8,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Puma Biotechnology during the first quarter valued at about $57,000. Squarepoint Ops LLC increased its holdings in shares of Puma Biotechnology by 17.7% in the second quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 10,757 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $54,000. 61.29% of the stock is currently owned by institutional investors.

About Puma Biotechnology

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.