Puma Biotechnology’s (PBYI) “Buy” Rating Reaffirmed at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 131.79% from the stock’s previous close.

Separately, StockNews.com downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th.

Puma Biotechnology Stock Up 7.5 %

PBYI opened at $3.02 on Monday. Puma Biotechnology has a 52 week low of $2.22 and a 52 week high of $7.73. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $2.95 and a two-hundred day moving average price of $2.99. The company has a market cap of $148.25 million, a PE ratio of 6.29 and a beta of 1.08.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $71.32 million. During the same period in the previous year, the company posted $0.12 EPS. As a group, research analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBYI. SG Americas Securities LLC acquired a new position in Puma Biotechnology during the third quarter worth about $34,000. Franklin Resources Inc. purchased a new stake in shares of Puma Biotechnology during the 3rd quarter worth approximately $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Puma Biotechnology in the 3rd quarter worth approximately $44,000. Patriot Financial Group Insurance Agency LLC increased its stake in Puma Biotechnology by 72.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Puma Biotechnology by 71.8% during the third quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 8,427 shares during the last quarter. Hedge funds and other institutional investors 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.