Puma Biotechnology (NASDAQ:PBYI) Cut to Buy at 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 morning.

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

Puma Biotechnology Stock Up 1.6 %

NASDAQ:PBYI opened at $3.12 on Friday. The stock’s fifty day moving average price is $2.90 and its two-hundred day moving average price is $3.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The company has a market cap of $153.15 million, a price-to-earnings ratio of 6.50 and a beta of 1.08. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The company had revenue of $80.50 million during the quarter, compared to the consensus estimate of $71.32 million. During the same period in the prior year, the business posted $0.12 EPS. On average, analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PBYI. SG Americas Securities LLC bought a new stake in shares of Puma Biotechnology in the third quarter worth $34,000. Franklin Resources Inc. acquired a new stake in shares of Puma Biotechnology in the 3rd quarter worth about $41,000. Victory Capital Management Inc. acquired a new stake in shares of Puma Biotechnology in the 2nd quarter worth about $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Puma Biotechnology in the 3rd quarter worth about $44,000. 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 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.