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

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

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

Puma Biotechnology Stock Up 3.5 %

NASDAQ:PBYI traded up $0.10 during trading hours on Friday, hitting $2.95. The stock had a trading volume of 429,645 shares, compared to its average volume of 452,300. The company has a market cap of $144.70 million, a PE ratio of 15.53 and a beta of 1.09. The business has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $3.40. Puma Biotechnology has a 1-year low of $2.22 and a 1-year high of $7.73. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 0.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $47.10 million for the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. During the same quarter last year, the firm posted $0.05 earnings per share. Analysts predict that Puma Biotechnology will post 0.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Patrick Miller sold 23,358 shares of Puma Biotechnology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total value of $81,519.42. Following the completion of the sale, the director now owns 47,000 shares in the company, valued at approximately $164,030. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds have recently added to or reduced their stakes in PBYI. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the first quarter valued at approximately $57,000. Victory Capital Management Inc. acquired a new position in Puma Biotechnology during the second quarter worth $54,000. The Manufacturers Life Insurance Company acquired a new position in Puma Biotechnology during the second quarter worth $58,000. Patriot Financial Group Insurance Agency LLC increased its position in Puma Biotechnology by 72.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 8,000 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Puma Biotechnology by 5,129.0% during the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 48,520 shares during 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.