Puma Biotechnology’s (PBYI) “Buy” Rating Reiterated at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 100.00% from the stock’s current price.

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

Puma Biotechnology Price Performance

Shares of PBYI stock opened at $3.50 on Friday. Puma Biotechnology has a 12-month low of $2.13 and a 12-month high of $7.73. The firm has a market capitalization of $168.84 million, a price-to-earnings ratio of 10.61 and a beta of 1.09. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average of $3.47 and a 200-day moving average of $4.67.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.12. The company had revenue of $43.80 million during the quarter, compared to analyst estimates of $41.53 million. Puma Biotechnology had a net margin of 6.79% and a return on equity of 35.49%. On average, equities research analysts forecast that Puma Biotechnology will post 0.25 earnings per share for the current year.

Insider Activity at Puma Biotechnology

In related news, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $3.33, for a total value of $89,910.00. Following the transaction, the director now owns 350 shares in the company, valued at approximately $1,165.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Puma Biotechnology 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 transaction of $81,104.00. Following the transaction, the chief executive officer now owns 7,063,515 shares in the company, valued at approximately $26,135,005.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Troy Edward Wilson sold 27,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the sale, the director now owns 350 shares in the company, valued at approximately $1,165.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,905 shares of company stock worth $294,859. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Point Partners LLC acquired a new stake in Puma Biotechnology in the fourth quarter worth $4,734,000. Bank of New York Mellon Corp lifted its position in shares of Puma Biotechnology by 63.6% during the second quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 120,104 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Puma Biotechnology in the second quarter valued at about $335,000. Assenagon Asset Management S.A. boosted its stake in Puma Biotechnology by 99.9% in the second quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock valued at $457,000 after acquiring an additional 70,060 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Puma Biotechnology in the first quarter valued at about $329,000. Institutional investors 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.