Puma Biotechnology (NASDAQ:PBYI) Downgraded to Buy Rating by StockNews.com

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a report on Wednesday.

Puma Biotechnology Trading Up 3.4 %

Shares of PBYI stock traded up $0.10 on Friday, hitting $3.00. The company had a trading volume of 538,317 shares, compared to its average volume of 468,496. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.73. 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 firm has a market cap of $147.26 million, a P/E ratio of 6.25 and a beta of 1.09. The stock’s 50-day moving average is $2.76 and its two-hundred day moving average is $3.19.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $80.50 million during 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 quarter in the prior year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that Puma Biotechnology will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Puma Biotechnology during the third quarter valued at approximately $34,000. Dynamic Technology Lab Private Ltd bought a new stake in Puma Biotechnology during the 3rd quarter valued at $44,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Puma Biotechnology by 72.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 8,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Puma Biotechnology by 71.8% in the third quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 8,427 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Puma Biotechnology during the second quarter valued at about $54,000. 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.