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

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

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

Puma Biotechnology Trading Up 14.6 %

Shares of Puma Biotechnology stock traded up $0.42 on Monday, hitting $3.30. The stock had a trading volume of 1,715,521 shares, compared to its average volume of 461,241. The stock has a 50 day moving average of $2.69 and a 200 day moving average of $3.29. 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 0.90, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market capitalization of $161.87 million, a P/E ratio of 6.88 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 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.10. The company had revenue of $80.50 million during the quarter, compared to analyst estimates of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 45.71%. During the same quarter in the previous year, the business posted $0.12 EPS. Sell-side analysts expect that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology during the third quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Puma Biotechnology by 72.7% in the third 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 raised its holdings in Puma Biotechnology by 71.8% in the third 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. Victory Capital Management Inc. bought a new position in Puma Biotechnology in the second quarter worth $54,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Puma Biotechnology during the second quarter valued at $58,000. Hedge funds and other 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.