Puma Biotechnology (NASDAQ:PBYI) Rating Lowered to Buy at StockNews.com

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

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

Puma Biotechnology Stock Down 3.0 %

Shares of NASDAQ:PBYI opened at $3.51 on Friday. Puma Biotechnology has a 12 month low of $2.23 and a 12 month high of $6.06. The company’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $2.88. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. The firm has a market cap of $174.13 million, a P/E ratio of 7.31 and a beta of 1.33.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.29. The company had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. As a group, research analysts forecast that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Insider Activity at Puma Biotechnology

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

Institutional Trading of Puma Biotechnology

Hedge funds have recently bought and sold shares of the stock. Gateway Wealth Partners LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $33,000. ProShare Advisors LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $36,000. Finally, C2C Wealth Management LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $37,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.