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

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

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

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI traded down $0.24 during mid-day trading on Monday, hitting $3.59. 399,268 shares of the stock traded hands, compared to its average volume of 513,205. The firm has a 50 day simple moving average of $3.45 and a two-hundred day simple moving average of $4.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.46 and a quick ratio of 1.38. The company has a market cap of $173.18 million, a PE ratio of 10.88 and a beta of 1.09. Puma Biotechnology has a twelve month low of $2.13 and a twelve month high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.44%. The business had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $43.99 million. During the same period last year, the business earned $0.05 earnings per share. As a group, equities research analysts forecast that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total transaction of $81,104.00. Following the sale, the chief executive officer now directly owns 7,063,515 shares of the company’s stock, valued at approximately $26,135,005.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Puma Biotechnology news, CEO Alan H. Auerbach sold 18,885 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $3.27, for a total value of $61,753.95. Following the completion of the transaction, the chief executive officer now owns 7,085,435 shares in the company, valued at approximately $23,169,372.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Auerbach sold 21,920 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the sale, the chief executive officer now directly owns 7,063,515 shares in the company, valued at $26,135,005.50. The disclosure for this sale can be found here. Insiders sold 85,905 shares of company stock valued at $294,859 over the last quarter. 23.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Puma Biotechnology by 2.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock valued at $10,366,000 after purchasing an additional 39,239 shares during the last quarter. Great Point Partners LLC acquired a new position in Puma Biotechnology in the fourth quarter worth $4,734,000. Bank of New York Mellon Corp grew its holdings in shares of Puma Biotechnology by 63.6% during the second quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after purchasing an additional 120,104 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Puma Biotechnology by 99.9% in the second quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock valued at $457,000 after buying an additional 70,060 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Puma Biotechnology during the 2nd quarter worth about $335,000. 61.29% of the stock is owned by institutional investors and hedge funds.

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.