Puma Biotechnology (NASDAQ:PBYI) Upgraded at StockNews.com

Puma Biotechnology (NASDAQ:PBYI) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a report on Friday, August 2nd.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $2.80 on Wednesday. The firm’s 50 day moving average is $2.60 and its two-hundred day moving average is $3.51. Puma Biotechnology has a 52 week low of $2.13 and a 52 week high of $7.73. The firm has a market capitalization of $137.34 million, a P/E ratio of 14.74 and a beta of 1.09. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 0.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. During the same period last year, the firm posted $0.05 earnings per share. Analysts anticipate that Puma Biotechnology will post 0.25 earnings per share for the current year.

Insider Activity

In related news, Director Michael Patrick Miller sold 23,358 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the sale, the director now directly owns 47,000 shares in the company, valued at approximately $164,030. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

A number of large investors have recently added to or reduced their stakes in PBYI. American Century Companies Inc. boosted its holdings in Puma Biotechnology by 98.5% during the second quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock worth $2,409,000 after buying an additional 366,653 shares in the last quarter. Affinity Asset Advisors LLC bought a new stake in Puma Biotechnology during the second quarter worth approximately $815,000. Frazier Life Sciences Management L.P. boosted its stake in Puma Biotechnology by 8.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock worth $9,984,000 after purchasing an additional 246,264 shares during the period. Great Point Partners LLC boosted its stake in Puma Biotechnology by 10.6% in the 2nd quarter. Great Point Partners LLC now owns 1,486,544 shares of the biopharmaceutical company’s stock worth $4,846,000 after purchasing an additional 142,916 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Puma Biotechnology by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after purchasing an additional 120,104 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.