Puma Biotechnology (NASDAQ:PBYI) Cut to Buy at StockNews.com

StockNews.com lowered shares of Puma Biotechnology (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, February 28th.

Puma Biotechnology Price Performance

NASDAQ:PBYI opened at $3.42 on Friday. The stock has a 50 day moving average of $3.07 and a two-hundred day moving average of $2.88. Puma Biotechnology has a 12 month low of $2.23 and a 12 month high of $6.06. The firm has a market cap of $169.67 million, a P/E ratio of 7.13 and a beta of 1.33. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.10 by $0.29. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The firm had revenue of $59.10 million during the quarter, compared to analysts’ expectations of $52.50 million. On average, analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Puma Biotechnology

In other news, CEO Alan H. Auerbach sold 33,841 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $106,599.15. Following the transaction, the chief executive officer now owns 7,029,674 shares of the company’s stock, valued at approximately $22,143,473.10. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the sale, the insider now directly owns 108,951 shares of the company’s stock, valued at $343,195.65. This represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gateway Wealth Partners LLC purchased a new position in Puma Biotechnology in the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its position in shares of Puma Biotechnology by 167.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 6,351 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Puma Biotechnology in the 4th quarter valued at about $33,000. ProShare Advisors LLC acquired a new position in Puma Biotechnology in the fourth quarter valued at about $36,000. Finally, C2C Wealth Management LLC purchased a new position in Puma Biotechnology during the fourth quarter worth about $37,000. 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.