Puma Biotechnology (NASDAQ:PBYI) Upgraded 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 report sent to investors on Friday morning.

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

Puma Biotechnology Stock Up 19.7 %

Shares of PBYI opened at $3.58 on Friday. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.15. The company has a market capitalization of $175.74 million, a PE ratio of 7.46 and a beta of 1.09. The stock has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $2.86. 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 released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. The business had revenue of $59.10 million during the quarter, compared to analysts’ expectations of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. As a group, equities analysts forecast that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Activity at Puma Biotechnology

In related news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the transaction, the insider now directly owns 108,951 shares in the company, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alan H. Auerbach sold 33,841 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $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. 23.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Puma Biotechnology in the 3rd quarter valued at about $627,000. JPMorgan Chase & Co. raised its position in Puma Biotechnology by 169.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 30,499 shares in the last quarter. SG Americas Securities LLC raised its position in Puma Biotechnology by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 11,252 shares in the last quarter. FMR LLC raised its position in Puma Biotechnology by 27.1% in the 3rd quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 25,183 shares in the last quarter. Finally, Barclays PLC raised its position in Puma Biotechnology by 146.5% in the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 46,370 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.

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.