Puma Biotechnology (NASDAQ:PBYI) Receives “Buy” Rating from HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating restated by stock 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 price target would indicate a potential upside of 134.11% from the stock’s previous close.

Separately, StockNews.com cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

Puma Biotechnology Trading Up 7.9 %

Shares of PBYI stock opened at $2.99 on Friday. The firm’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. Puma Biotechnology has a 1-year low of $2.22 and a 1-year high of $7.15. The firm has a market cap of $146.77 million, a P/E ratio of 6.23 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million for the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. As a group, equities analysts forecast that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Activity at Puma Biotechnology

In related news, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $106,599.15. Following the transaction, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $29,726.55. Following the sale, the insider now owns 108,951 shares in the company, valued at approximately $343,195.65. The trade was a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in PBYI. Mackenzie Financial Corp acquired a new stake in Puma Biotechnology in the fourth quarter valued at $240,000. Two Sigma Investments LP grew its holdings in Puma Biotechnology by 266.2% during the 4th quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company’s stock worth $553,000 after acquiring an additional 131,916 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Puma Biotechnology by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 196,900 shares of the biopharmaceutical company’s stock worth $601,000 after purchasing an additional 35,900 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at about $36,000. Finally, Nuveen Asset Management LLC lifted its position in shares of Puma Biotechnology by 41.4% during the fourth quarter. Nuveen Asset Management LLC now owns 79,101 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 23,179 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other 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.