Puma Biotechnology (NASDAQ:PBYI) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Puma Biotechnology (NASDAQ:PBYIFree Report) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, November 20th.

View Our Latest Analysis on PBYI

Puma Biotechnology Trading Up 0.7 %

NASDAQ PBYI opened at $3.02 on Friday. Puma Biotechnology has a 1 year low of $2.22 and a 1 year high of $7.73. 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 company has a market capitalization of $148.25 million, a PE ratio of 6.29 and a beta of 1.09. The company has a fifty day moving average of $2.77 and a 200 day moving average of $3.16.

Puma Biotechnology (NASDAQ:PBYIGet Free Report) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The firm had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. During the same period last year, the company earned $0.12 earnings per share. Research analysts forecast that Puma Biotechnology will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Puma Biotechnology

A number of institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in Puma Biotechnology during the third quarter worth about $627,000. Affinity Asset Advisors LLC purchased a new position in Puma Biotechnology in the 2nd quarter valued at approximately $815,000. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology in the first quarter worth $57,000. Frazier Life Sciences Management L.P. grew its position in shares of 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 buying an additional 246,264 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Puma Biotechnology by 127.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock valued at $409,000 after purchasing an additional 43,229 shares during the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.

Puma Biotechnology Company Profile

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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.

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