Puma Biotechnology (NASDAQ:PBYI) Given Buy Rating at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday, 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 82.77% from the stock’s current price.

Separately, StockNews.com raised Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th.

Puma Biotechnology Trading Down 2.8 %

PBYI traded down $0.11 during trading on Friday, reaching $3.83. 318,588 shares of the company’s stock were exchanged, compared to its average volume of 517,031. The company’s fifty day moving average price is $3.51 and its 200-day moving average price is $4.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.46. The firm has a market capitalization of $184.76 million, a PE ratio of 11.42 and a beta of 1.09. Puma Biotechnology has a fifty-two week low of $2.13 and a fifty-two week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.12. Puma Biotechnology had a return on equity of 35.49% and a net margin of 6.79%. The company had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $41.53 million. As a group, equities analysts forecast that Puma Biotechnology will post 0.22 EPS for the current year.

Insider Buying and Selling at Puma Biotechnology

In related news, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the completion of the transaction, the chief executive officer now owns 7,063,515 shares of the company’s stock, valued at approximately $26,135,005.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Alan H. Auerbach sold 18,885 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $3.27, for a total transaction of $61,753.95. Following the sale, the chief executive officer now directly owns 7,085,435 shares in the company, valued at $23,169,372.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $3.70, for a total transaction of $81,104.00. Following the transaction, the chief executive officer now directly owns 7,063,515 shares in the company, valued at $26,135,005.50. The disclosure for this sale can be found here. Insiders have sold a total of 85,905 shares of company stock worth $294,859 over the last 90 days. Insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBYI. Bank of New York Mellon Corp raised its position in Puma Biotechnology by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 120,104 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Puma Biotechnology by 99.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock worth $457,000 after acquiring an additional 70,060 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Puma Biotechnology by 5,129.0% in the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 48,520 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Puma Biotechnology during the first quarter valued at about $329,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Puma Biotechnology by 127.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 43,229 shares during the last quarter. Institutional investors and hedge funds 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.