StockNews.com Upgrades Puma Biotechnology (NASDAQ:PBYI) to Strong-Buy

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

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

Puma Biotechnology Trading Down 1.1 %

Shares of Puma Biotechnology stock opened at $2.81 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. The business has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $3.51. Puma Biotechnology has a 1 year low of $2.13 and a 1 year high of $7.73. The company has a market capitalization of $137.83 million, a price-to-earnings ratio of 14.79 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, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $47.10 million for the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. During the same period in the prior year, the firm earned $0.05 earnings per share. Research analysts forecast that Puma Biotechnology will post 0.25 EPS for the current 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.70% of the company’s stock.

Institutional Investors Weigh In On Puma Biotechnology

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Puma Biotechnology during the first quarter worth approximately $57,000. Victory Capital Management Inc. bought a new stake in shares of Puma Biotechnology during the 2nd quarter valued at $54,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Puma Biotechnology during the 2nd quarter worth $58,000. Lazard Asset Management LLC grew its holdings in shares of Puma Biotechnology by 5,129.0% during the 1st quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 48,520 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Puma Biotechnology by 2,309.9% in the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 48,184 shares during the period. 61.29% of the stock is currently 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.