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

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a report issued on Monday.

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a report on Friday, November 8th.

Puma Biotechnology Trading Up 0.7 %

Shares of Puma Biotechnology stock opened at $2.99 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. Puma Biotechnology has a 12-month low of $2.22 and a 12-month high of $7.73. The company has a market capitalization of $146.78 million, a price-to-earnings ratio of 6.23 and a beta of 1.09. The firm’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $3.27.

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, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The business had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. During the same quarter last year, the business posted $0.12 EPS. On average, analysts forecast that Puma Biotechnology will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Puma Biotechnology in the first quarter valued at approximately $57,000. Acadian Asset Management LLC grew its position in Puma Biotechnology by 2.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock worth $10,366,000 after acquiring an additional 39,239 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Puma Biotechnology by 127.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 43,229 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Puma Biotechnology in the 1st quarter worth about $329,000. Finally, Lazard Asset Management LLC raised its position in Puma Biotechnology by 5,129.0% in the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 48,520 shares during the last quarter. 61.29% of the stock is owned by institutional investors.

Puma Biotechnology Company 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.