Puma Biotechnology’s (PBYI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note published on Friday morning,Benzinga reports. The firm currently has a $7.00 price target on the biopharmaceutical company’s stock.

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

Puma Biotechnology Price Performance

Shares of Puma Biotechnology stock opened at $3.58 on Friday. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.15. 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 firm has a market cap of $175.74 million, a P/E ratio of 7.46 and a beta of 1.09. The firm’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $2.86.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.10 by $0.29. The business had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. As a group, research analysts expect that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Alan H. Auerbach sold 33,841 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $106,599.15. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the transaction, the insider now owns 108,951 shares of the company’s stock, valued at $343,195.65. The trade was a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Puma Biotechnology

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