StockNews.com Upgrades Puma Biotechnology (NASDAQ:PBYI) to Strong-Buy

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

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a report on Friday, November 8th.

Puma Biotechnology Stock Performance

PBYI opened at $3.21 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. The company has a market cap of $157.45 million, a PE ratio of 6.69 and a beta of 1.09. The stock has a 50-day moving average of $2.70 and a 200-day moving average of $3.28. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 45.71% and a net margin of 9.56%. The company had revenue of $80.50 million for the quarter, compared to the consensus estimate of $71.32 million. During the same quarter last year, the company posted $0.12 earnings per share. As a group, equities research analysts forecast that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Rice Hall James & Associates LLC grew its position in Puma Biotechnology by 3.3% during the second quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after buying an additional 4,686 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Puma Biotechnology by 72.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 8,000 shares in the last quarter. Royce & Associates LP increased its position in shares of Puma Biotechnology by 71.8% during the third 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 period. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology in the first quarter valued at $57,000. Finally, Squarepoint Ops LLC lifted its position in Puma Biotechnology by 17.7% in the second quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 10,757 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.

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.