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

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

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

Puma Biotechnology Stock Performance

NASDAQ:PBYI opened at $2.86 on Wednesday. Puma Biotechnology has a fifty-two week low of $2.23 and a fifty-two week high of $5.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The company has a 50 day moving average price of $3.10 and a 200 day moving average price of $3.01. The stock has a market capitalization of $141.89 million, a P/E ratio of 5.96 and a beta of 1.34.

Puma Biotechnology (NASDAQ:PBYI) last released 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 business had revenue of $59.10 million during the quarter, compared to analyst estimates of $52.50 million. Equities research analysts forecast that Puma Biotechnology will post 0.31 EPS for the current year.

Institutional Trading of Puma Biotechnology

Several hedge funds have recently modified their holdings of the stock. Gateway Wealth Partners LLC purchased a new stake in Puma Biotechnology during the 4th quarter worth about $31,000. Tower Research Capital LLC TRC grew its position in shares of Puma Biotechnology by 167.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 6,351 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Puma Biotechnology during the fourth quarter worth approximately $33,000. ProShare Advisors LLC acquired a new stake in Puma Biotechnology in the fourth quarter valued at approximately $36,000. Finally, C2C Wealth Management LLC purchased a new position in Puma Biotechnology in the fourth quarter worth approximately $37,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.