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

Puma Biotechnology Trading Up 12.3 %

Shares of Puma Biotechnology stock traded up $0.44 during trading on Monday, hitting $4.03. The stock had a trading volume of 685,256 shares, compared to its average volume of 514,352. Puma Biotechnology has a 1 year low of $2.13 and a 1 year high of $7.73. The stock has a 50 day simple moving average of $3.45 and a 200 day simple moving average of $4.64. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $194.41 million, a PE ratio of 11.70 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.44%. During the same period in the previous year, the company posted $0.05 EPS. On average, research analysts expect that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Puma Biotechnology

In other news, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $3.33, for a total value of $89,910.00. Following the transaction, the director now directly owns 350 shares of the company’s stock, valued at $1,165.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Puma Biotechnology news, CEO Alan H. Auerbach sold 21,920 shares of Puma Biotechnology 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 completion of the sale, the chief executive officer now directly owns 7,063,515 shares in the company, valued at $26,135,005.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Troy Edward Wilson sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the completion of the sale, the director now directly owns 350 shares of the company’s stock, valued at $1,165.50. The disclosure for this sale can be found here. Insiders sold 85,905 shares of company stock valued at $294,859 in the last quarter. Company insiders own 23.70% of the company’s stock.

Institutional Investors Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the business. Great Point Partners LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter worth $4,734,000. Bank of New York Mellon Corp lifted its position in Puma Biotechnology by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after acquiring an additional 120,104 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Puma Biotechnology during the second quarter valued at about $335,000. Assenagon Asset Management S.A. grew its position 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 purchasing an additional 70,060 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Puma Biotechnology in the first quarter valued at about $329,000. Institutional investors and hedge funds 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.