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

StockNews.com downgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, February 28th.

Puma Biotechnology Trading Down 3.0 %

Shares of NASDAQ PBYI opened at $3.51 on Friday. 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 fifty day simple moving average of $3.07 and a two-hundred day simple moving average of $2.88. The firm has a market cap of $174.13 million, a PE ratio of 7.31 and a beta of 1.33. Puma Biotechnology has a twelve month low of $2.23 and a twelve month high of $6.06.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.29. The business had revenue of $59.10 million during the quarter, compared to analyst estimates of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. Analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $29,726.55. Following the transaction, the insider now directly owns 108,951 shares in the company, valued at $343,195.65. The trade was a 7.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Auerbach sold 33,841 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $106,599.15. Following the transaction, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acorn Capital Advisors LLC purchased a new position in Puma Biotechnology during the 4th quarter worth $7,475,000. American Century Companies Inc. lifted its position in Puma Biotechnology by 8.4% during the 4th quarter. American Century Companies Inc. now owns 948,376 shares of the biopharmaceutical company’s stock worth $2,893,000 after acquiring an additional 73,833 shares during the period. Dimensional Fund Advisors LP lifted its position in Puma Biotechnology by 24.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company’s stock worth $2,635,000 after acquiring an additional 170,968 shares during the period. Kennedy Capital Management LLC lifted its position in Puma Biotechnology by 36.5% during the 4th quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company’s stock worth $2,469,000 after acquiring an additional 216,329 shares during the period. Finally, State Street Corp lifted its position in Puma Biotechnology by 17.0% during the 3rd quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company’s stock worth $1,534,000 after acquiring an additional 87,504 shares during the period. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

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.