StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI – Free Report) from a buy rating to a strong-buy rating in a research note published on Monday.
Separately, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday.
Get Our Latest Stock Report on PBYI
Puma Biotechnology Trading Up 14.6 %
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 45.71%. The firm had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $71.32 million. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities analysts forecast that Puma Biotechnology will post 0.25 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Puma Biotechnology by 3.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 13,941 shares during the last quarter. Prospera Financial Services Inc grew its stake in Puma Biotechnology by 12.9% in the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company’s stock valued at $431,000 after buying an additional 19,315 shares during the last quarter. Royce & Associates LP grew its stake in Puma Biotechnology by 71.8% in the 3rd 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 during the last quarter. Victory Capital Management Inc. grew its stake in Puma Biotechnology by 111.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 18,532 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Puma Biotechnology in the 3rd quarter valued at about $627,000. 61.29% of the stock is currently 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.
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