Puma Biotechnology (NASDAQ:PBYI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.36 and traded as high as $7.30. Puma Biotechnology shares last traded at $7.27, with a volume of 223,925 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PBYI. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Puma Biotechnology Stock Up 2.7%

The firm has a market cap of $370.04 million, a price-to-earnings ratio of 15.15 and a beta of 1.24. The company has a 50-day moving average price of $7.00 and a 200 day moving average price of $6.36.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The business had revenue of $44.81 million during the quarter, compared to analysts’ expectations of $42.00 million. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%. Equities analysts forecast that Puma Biotechnology, Inc. will post 0.17 EPS for the current year.

Institutional Trading of Puma Biotechnology

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Puma Biotechnology by 244.5% during the first quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 3,066 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Puma Biotechnology during the fourth quarter valued at $49,000. State of Alaska Department of Revenue acquired a new stake in Puma Biotechnology during the fourth quarter valued at $50,000. Finally, ProShare Advisors LLC acquired a new stake in Puma Biotechnology during the fourth quarter valued at $60,000. Institutional investors and hedge funds own 61.29% of the company’s stock.

About Puma Biotechnology

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.