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

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 143.06% from the stock’s current price.

Separately, StockNews.com raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st.

Puma Biotechnology Stock Down 5.0 %

NASDAQ:PBYI opened at $2.88 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is $2.67 and its two-hundred day moving average price is $3.31. Puma Biotechnology has a twelve month low of $2.22 and a twelve month high of $7.73. The firm has a market capitalization of $141.26 million, a price-to-earnings ratio of 6.00 and a beta of 1.09.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the completion of the sale, the director now directly owns 47,000 shares in the company, valued at $164,030. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 23.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in Puma Biotechnology by 3.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 13,941 shares during the period. Prospera Financial Services Inc lifted its holdings in shares of Puma Biotechnology by 12.9% during the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 19,315 shares during the period. Royce & Associates LP lifted its holdings in shares of Puma Biotechnology by 71.8% during the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 8,427 shares during the period. Victory Capital Management Inc. boosted its position in shares of Puma Biotechnology by 111.9% during the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company’s stock worth $89,000 after acquiring an additional 18,532 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Puma Biotechnology during the third quarter worth $627,000. 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.