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

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 148.23% from the stock’s current price.

Separately, StockNews.com lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Puma Biotechnology Price Performance

NASDAQ PBYI traded up $0.07 during mid-day trading on Monday, hitting $2.82. The stock had a trading volume of 145,123 shares, compared to its average volume of 462,485. The firm’s 50 day moving average is $2.95 and its 200 day moving average is $3.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The stock has a market capitalization of $138.43 million, a price-to-earnings ratio of 5.88 and a beta of 1.08. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same period in the prior year, the business earned $0.12 earnings per share. Equities research analysts forecast that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

A number of hedge funds have recently modified their holdings of PBYI. SG Americas Securities LLC purchased a new position in Puma Biotechnology in the third quarter worth approximately $34,000. Franklin Resources Inc. acquired a new position in shares of Puma Biotechnology in the 3rd quarter valued at $41,000. Victory Capital Management Inc. purchased a new position in shares of Puma Biotechnology during the 2nd quarter worth $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Puma Biotechnology during the 3rd quarter worth about $44,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Puma Biotechnology in the 2nd quarter valued at about $58,000. Hedge funds and other 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.