Puma Biotechnology (NASDAQ:PBYI) Lifted 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 report published on Wednesday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Puma Biotechnology in a report on Friday, August 2nd.

Puma Biotechnology Stock Up 5.4 %

NASDAQ:PBYI opened at $2.95 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. Puma Biotechnology has a 1-year low of $2.21 and a 1-year high of $7.73. The company has a 50-day moving average of $2.60 and a 200 day moving average of $3.47. The firm has a market cap of $144.70 million, a PE ratio of 15.53 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.05 EPS. As a group, research analysts anticipate that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the transaction, the director now owns 47,000 shares in the company, valued at $164,030. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology in the 1st quarter worth $57,000. Victory Capital Management Inc. purchased a new stake in Puma Biotechnology in the second quarter valued at about $54,000. The Manufacturers Life Insurance Company acquired a new stake in Puma Biotechnology in the second quarter worth about $58,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of 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 acquiring an additional 8,000 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of 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 valued at $262,000 after acquiring an additional 48,520 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other 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.