Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at StockNews.com

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 2nd.

Puma Biotechnology Stock Down 1.1 %

NASDAQ:PBYI traded down $0.03 during trading hours on Wednesday, reaching $2.81. The company’s stock had a trading volume of 193,296 shares, compared to its average volume of 458,586. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. The company has a market cap of $137.83 million, a price-to-earnings ratio of 14.79 and a beta of 1.09. Puma Biotechnology has a one year low of $2.13 and a one year high of $7.73. The business’s 50-day moving average is $2.60 and its 200-day moving average is $3.51.

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

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBYI. SG Americas Securities LLC bought a new stake in Puma Biotechnology during the 1st quarter valued at approximately $57,000. Victory Capital Management Inc. bought a new position in shares of Puma Biotechnology during the second quarter valued at $54,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Puma Biotechnology during the 2nd quarter valued at about $58,000. Lazard Asset Management LLC grew its position in Puma Biotechnology by 5,129.0% in the 1st quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 48,520 shares during the period. Finally, Rhumbline Advisers increased its position in Puma Biotechnology by 2,309.9% during the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 48,184 shares during the last quarter. Institutional investors 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.