HC Wainwright Reaffirms Buy Rating for Puma Biotechnology (NASDAQ:PBYI)

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 123.64% from the company’s previous close.

Separately, StockNews.com raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st.

Puma Biotechnology Stock Up 3.3 %

Shares of PBYI traded up $0.10 during mid-day trading on Friday, reaching $3.13. The company’s stock had a trading volume of 698,254 shares, compared to its average volume of 451,997. The company’s 50 day moving average is $2.66 and its 200 day moving average is $3.34. The stock has a market cap of $153.53 million, a PE ratio of 16.11 and a beta of 1.09. Puma Biotechnology has a 12-month low of $2.22 and a 12-month high of $7.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the sale, the director now owns 47,000 shares in the company, valued at $164,030. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

A number of hedge funds have recently added to or reduced their stakes in PBYI. SG Americas Securities LLC purchased a new stake in shares of Puma Biotechnology during the third quarter worth approximately $34,000. Patriot Financial Group Insurance Agency LLC raised its position in Puma Biotechnology by 72.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 8,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 8,427 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Puma Biotechnology in the second quarter valued at about $54,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Puma Biotechnology during the second quarter worth about $58,000. 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.