Puma Biotechnology (NASDAQ:PBYI) Upgraded to “Strong-Buy” at StockNews.com

Puma Biotechnology (NASDAQ:PBYI) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 2nd.

Puma Biotechnology Trading Up 3.5 %

PBYI stock opened at $2.95 on Friday. The firm has a fifty day moving average price of $2.62 and a 200 day moving average price of $3.40. Puma Biotechnology has a fifty-two week low of $2.22 and a fifty-two week high of $7.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market cap of $144.70 million, a PE ratio of 15.53 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. During the same period last year, the firm posted $0.05 earnings per share. Sell-side analysts anticipate that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the sale, the director now directly owns 47,000 shares of the company’s stock, valued at approximately $164,030. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 8,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Puma Biotechnology in the third quarter valued at about $34,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Puma Biotechnology by 8.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock valued at $9,984,000 after acquiring an additional 246,264 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Puma Biotechnology in the second quarter worth about $58,000. Finally, Affinity Asset Advisors LLC bought a new position in Puma Biotechnology in the second quarter worth about $815,000. 61.29% of the stock is currently owned by 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.