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

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

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

Puma Biotechnology Price Performance

Shares of PBYI traded down $0.03 during trading hours on Wednesday, reaching $2.81. 193,296 shares of the stock traded hands, compared to its average volume of 458,586. The company has a market cap of $137.83 million, a P/E ratio of 14.79 and a beta of 1.09. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $3.51. Puma Biotechnology has a 52-week low of $2.13 and a 52-week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $47.10 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $0.05 EPS. On average, analysts anticipate 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 dated Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the completion of the transaction, the director now owns 47,000 shares in the company, valued at approximately $164,030. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.70% of the stock is owned by insiders.

Institutional Trading of Puma Biotechnology

A number of institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC lifted its stake in shares of Puma Biotechnology by 3.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after acquiring an additional 4,686 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology in the first quarter worth about $57,000. Squarepoint Ops LLC increased its stake in Puma Biotechnology by 17.7% in the 2nd quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after buying an additional 10,757 shares during the period. Victory Capital Management Inc. bought a new stake in Puma Biotechnology during the 2nd quarter valued at about $54,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Puma Biotechnology in the 2nd quarter valued at about $58,000. 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.