Puma Biotechnology (NASDAQ:PBYI) Raised to “Strong-Buy” at StockNews.com

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

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, November 8th.

Puma Biotechnology Trading Down 7.5 %

PBYI opened at $2.97 on Monday. The business has a 50 day moving average of $2.72 and a 200-day moving average of $3.27. The stock has a market cap of $145.80 million, a PE ratio of 6.19 and a beta of 1.09. 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.

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 analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. During the same quarter in the previous year, the business earned $0.12 earnings per share. Equities research analysts predict that Puma Biotechnology will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Several large investors have recently bought and sold shares of PBYI. SG Americas Securities LLC bought a new position in Puma Biotechnology during the 1st quarter valued at about $57,000. Acadian Asset Management LLC boosted its holdings in Puma Biotechnology by 2.0% in the first quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock worth $10,366,000 after purchasing an additional 39,239 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Puma Biotechnology by 127.7% in the 1st 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 period. EntryPoint Capital LLC purchased a new stake in Puma Biotechnology during the 1st quarter valued at $329,000. Finally, Lazard Asset Management LLC lifted 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 valued at $262,000 after buying an additional 48,520 shares during the period. 61.29% of the stock is currently owned by 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.