Puma Biotechnology’s (PBYI) “Buy” Rating Reaffirmed at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $7.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 140.55% from the stock’s current price.

Separately, StockNews.com raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th.

Puma Biotechnology Price Performance

Shares of PBYI opened at $2.91 on Wednesday. The company has a market cap of $142.85 million, a price-to-earnings ratio of 6.06 and a beta of 1.09. Puma Biotechnology has a 1-year low of $2.22 and a 1-year high of $7.73. The company’s fifty day simple moving average is $2.75 and its 200 day simple moving average is $3.20. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The firm had revenue of $80.50 million for the quarter, compared to the consensus estimate of $71.32 million. During the same period in the previous year, the company earned $0.12 earnings per share. On average, research analysts forecast that Puma Biotechnology will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of Puma Biotechnology in the third quarter valued at about $627,000. Affinity Asset Advisors LLC bought a new stake in Puma Biotechnology during the second quarter worth about $815,000. SG Americas Securities LLC bought a new stake in Puma Biotechnology during the first quarter worth about $57,000. Frazier Life Sciences Management L.P. lifted its position in Puma Biotechnology by 8.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock worth $9,984,000 after purchasing an additional 246,264 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Puma Biotechnology by 127.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 43,229 shares during the period. Institutional investors own 61.29% of the company’s stock.

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.