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

Puma Biotechnology (NASDAQ:PBYI) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

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

Puma Biotechnology Stock Performance

Puma Biotechnology stock opened at $2.85 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.73. The company’s 50-day moving average price is $2.61 and its 200-day moving average price is $3.42. The company has a market cap of $139.79 million, a PE ratio of 15.00 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data 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 company had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $43.99 million. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts forecast that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the transaction, the director now directly owns 47,000 shares in the company, valued at approximately $164,030. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Large investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC increased its stake in Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 8,000 shares during the period. SG Americas Securities LLC purchased a new position in Puma Biotechnology in the 3rd quarter worth about $34,000. Frazier Life Sciences Management L.P. increased its stake in Puma Biotechnology by 8.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock worth $9,984,000 after buying an additional 246,264 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Puma Biotechnology during the 2nd quarter valued at about $58,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Puma Biotechnology in the 2nd quarter valued at about $815,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

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.