Puma Biotechnology (NASDAQ:PBYI) Rating Lowered to Buy at StockNews.com

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

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a report on Wednesday.

Puma Biotechnology Trading Up 3.4 %

Shares of PBYI stock opened at $3.00 on Friday. 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 stock has a fifty day simple moving average of $2.77 and a two-hundred day simple moving average of $3.18. The firm has a market capitalization of $147.27 million, a PE ratio of 6.25 and a beta of 1.09. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter last year, the business posted $0.12 earnings per share. On average, analysts predict that Puma Biotechnology will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Puma Biotechnology in the 1st quarter worth $57,000. Victory Capital Management Inc. purchased a new position in Puma Biotechnology in the second quarter worth about $54,000. Dynamic Technology Lab Private Ltd bought a new stake in Puma Biotechnology during the third quarter worth approximately $44,000. The Manufacturers Life Insurance Company purchased a new stake in Puma Biotechnology during the second quarter valued at approximately $58,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Puma Biotechnology by 72.7% in 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. Hedge funds and other institutional investors own 61.29% of the company’s stock.

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.