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 report published on Monday morning.

Separately, HC Wainwright reaffirmed a buy rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, August 2nd.

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $3.83 on Monday. Puma Biotechnology has a 12 month low of $2.13 and a 12 month high of $7.73. The company’s fifty day simple moving average is $3.44 and its 200-day simple moving average is $4.62. The firm has a market cap of $184.76 million, a PE ratio of 11.61 and a beta of 1.09. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 1.07.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $47.10 million for the quarter, compared to the consensus estimate 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 earned $0.05 earnings per share. Equities research analysts expect that Puma Biotechnology will post 0.25 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds have recently bought and sold shares of PBYI. Crestline Management LP grew its stake in Puma Biotechnology by 6.5% during 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 during the period. Rice Hall James & Associates LLC boosted its holdings in shares of Puma Biotechnology by 3.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after buying an additional 4,686 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology during the 1st quarter worth approximately $57,000. Assenagon Asset Management S.A. grew 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 worth $368,000 after buying an additional 15,897 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at $54,000. 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.