Puma Biotechnology’s (PBYI) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note published on Friday, Benzinga reports. HC Wainwright currently has a $7.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com cut shares of Puma Biotechnology from a buy rating to a hold rating in a research note on Wednesday, April 10th.

Puma Biotechnology Stock Performance

PBYI stock traded down $0.10 on Friday, hitting $4.86. The company had a trading volume of 390,616 shares, compared to its average volume of 286,506. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.23. Puma Biotechnology has a 12-month low of $2.13 and a 12-month high of $7.73. The stock has a market cap of $234.30 million, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.82 and a beta of 1.31. The stock’s 50-day simple moving average is $5.35 and its 200 day simple moving average is $4.66.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.07). The firm had revenue of $72.20 million during the quarter, compared to analysts’ expectations of $73.22 million. Puma Biotechnology had a return on equity of 37.69% and a net margin of 6.79%. As a group, equities research analysts expect 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 have recently bought and sold shares of PBYI. Jump Financial LLC grew its stake in shares of Puma Biotechnology by 26.6% during the 3rd quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 5,190 shares during the period. Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology in the fourth quarter worth approximately $66,000. Crestline Management LP increased its stake in shares of Puma Biotechnology by 6.5% in the fourth quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 2,135 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of Puma Biotechnology in the third quarter worth $262,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Puma Biotechnology by 23.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 15,897 shares during the period. 61.29% of the stock is owned by institutional investors.

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.