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

Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, February 28th.

Puma Biotechnology Trading Down 3.0 %

PBYI stock opened at $3.51 on Friday. 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 fifty day moving average price of $3.07 and a two-hundred day moving average price of $2.88. Puma Biotechnology has a one year low of $2.23 and a one year high of $6.06. The stock has a market cap of $174.13 million, a price-to-earnings ratio of 7.31 and a beta of 1.33.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The firm had revenue of $59.10 million during the quarter, compared to analysts’ expectations of $52.50 million. Equities analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Activity

In related news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the transaction, the insider now owns 108,951 shares of the company’s stock, valued at $343,195.65. The trade was a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Auerbach sold 33,841 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $106,599.15. Following the completion of the transaction, the chief executive officer now directly owns 7,029,674 shares of the company’s stock, valued at approximately $22,143,473.10. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Puma Biotechnology by 167.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 6,351 shares in the last quarter. Gateway Wealth Partners LLC acquired a new position in Puma Biotechnology during the fourth quarter worth about $31,000. Graham Capital Management L.P. acquired a new position in Puma Biotechnology during the fourth quarter worth about $33,000. ProShare Advisors LLC acquired a new position in Puma Biotechnology during the fourth quarter worth about $36,000. Finally, C2C Wealth Management LLC acquired a new position in Puma Biotechnology during the fourth quarter worth about $37,000. Institutional investors and hedge funds 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.