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

StockNews.com lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a report released on Friday.

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, November 20th.

Puma Biotechnology Trading Up 0.7 %

NASDAQ:PBYI opened at $3.02 on Friday. The company has a market capitalization of $148.25 million, a PE ratio of 6.29 and a beta of 1.09. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73. The stock’s 50 day moving average price is $2.77 and its 200 day moving average price is $3.16. 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 (NASDAQ:PBYI) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same period last year, the firm posted $0.12 earnings per share. On average, research analysts anticipate that Puma Biotechnology will post 0.29 EPS for the current year.

Institutional Trading of Puma Biotechnology

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Puma Biotechnology during the first quarter worth approximately $57,000. O Shaughnessy Asset Management LLC raised its position in Puma Biotechnology by 127.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after buying an additional 43,229 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Puma Biotechnology by 5,129.0% in the 1st quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 48,520 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Puma Biotechnology by 99.9% in the second quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock valued at $457,000 after acquiring an additional 70,060 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Puma Biotechnology by 63.6% during the second quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after acquiring an additional 120,104 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.

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.