HC Wainwright Reiterates Buy Rating for Puma Biotechnology (NASDAQ:PBYI)

HC Wainwright reaffirmed their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $7.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st.

Puma Biotechnology Stock Down 5.0 %

Shares of PBYI traded down $0.15 on Friday, reaching $2.88. The company’s stock had a trading volume of 1,449,873 shares, compared to its average volume of 455,458. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $141.26 million, a PE ratio of 6.00 and a beta of 1.09. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.73. The firm has a fifty day moving average of $2.67 and a 200-day moving average of $3.32.

Insider Activity

In other news, Director Michael Patrick Miller sold 23,358 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the transaction, the director now directly owns 47,000 shares of the company’s stock, valued at $164,030. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of PBYI. SG Americas Securities LLC purchased a new stake in Puma Biotechnology in the 3rd quarter worth approximately $34,000. Patriot Financial Group Insurance Agency LLC lifted 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 worth $48,000 after purchasing an additional 8,000 shares in the last quarter. Royce & Associates LP lifted its stake in Puma Biotechnology by 71.8% in the 3rd 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 in the last quarter. Victory Capital Management Inc. purchased a new stake in Puma Biotechnology in the 2nd quarter worth approximately $54,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Puma Biotechnology in the 2nd quarter worth approximately $58,000. 61.29% of the stock is currently owned by hedge funds and other 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.