Franklin Resources Inc. Invests $41,000 in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Franklin Resources Inc. acquired a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,967 shares of the biopharmaceutical company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Puma Biotechnology by 63.6% in the second 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 period. Rhumbline Advisers lifted its stake in shares of Puma Biotechnology by 2,309.9% in 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 during the period. Victory Capital Management Inc. bought a new position in shares of Puma Biotechnology in the second quarter valued at approximately $54,000. Rice Hall James & Associates LLC increased its stake in shares of Puma Biotechnology by 3.3% during the second 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 period. Finally, American Century Companies Inc. raised its holdings in Puma Biotechnology by 98.5% during the second quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock worth $2,409,000 after purchasing an additional 366,653 shares in the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

Puma Biotechnology Stock Up 2.3 %

NASDAQ PBYI opened at $3.12 on Friday. Puma Biotechnology, Inc. has a 12 month low of $2.22 and a 12 month high of $7.73. The company has a market capitalization of $153.15 million, a P/E ratio of 6.50 and a beta of 1.08. The company’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $2.98. 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 (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.10. The company had revenue of $80.50 million for 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 quarter in the prior year, the company earned $0.12 earnings per share. Equities research analysts expect that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research note on Monday, December 23rd. StockNews.com cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Puma Biotechnology 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.