Puma Biotechnology (NASDAQ:PBYI) Upgraded by StockNews.com to Strong-Buy Rating

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 reaffirmed a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday.

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI opened at $3.58 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. Puma Biotechnology has a fifty-two week low of $2.22 and a fifty-two week high of $7.15. The firm has a market capitalization of $175.74 million, a PE ratio of 7.46 and a beta of 1.09. The stock’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.86.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share 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 business had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. As a group, equities research analysts forecast that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Puma Biotechnology news, insider Jeffrey Jerome Ludwig sold 9,437 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the transaction, the insider now directly owns 108,951 shares in the company, valued at approximately $343,195.65. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $106,599.15. Following the completion of the transaction, the chief executive officer now owns 7,029,674 shares in the company, 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 corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Los Angeles Capital Management LLC purchased a new position in shares of Puma Biotechnology in the 3rd quarter valued at approximately $627,000. Victory Capital Management Inc. grew its stake in shares of Puma Biotechnology by 111.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 18,532 shares during the last quarter. Royce & Associates LP grew its stake in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 8,427 shares during the last quarter. Prospera Financial Services Inc grew its stake in shares of Puma Biotechnology by 12.9% in the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company’s stock valued at $431,000 after purchasing an additional 19,315 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Puma Biotechnology by 3.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 13,941 shares in the last quarter. 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.