Puma Biotechnology (NASDAQ:PBYI) Upgraded to “Strong-Buy” at StockNews.com

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

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

Puma Biotechnology Stock Up 0.7 %

PBYI stock opened at $2.99 on Monday. Puma Biotechnology has a 1-year low of $2.22 and a 1-year high of $7.73. The business’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $3.27. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $146.78 million, a PE ratio of 6.23 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. The firm had revenue of $80.50 million for the quarter, compared to the consensus estimate of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, research analysts anticipate that Puma Biotechnology will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC boosted its position in shares of Puma Biotechnology by 3.3% in the second quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock valued at $472,000 after acquiring an additional 4,686 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in Puma Biotechnology by 72.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 8,000 shares during the period. Royce & Associates LP grew its position in shares of Puma Biotechnology by 71.8% during the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 8,427 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology during the first quarter worth approximately $57,000. Finally, Squarepoint Ops LLC raised its position in shares of Puma Biotechnology by 17.7% in the second quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 10,757 shares in the last quarter. Institutional investors 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.