Puma Biotechnology (NASDAQ:PBYI) Upgraded at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a research report released on Sunday.

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

Puma Biotechnology Stock Performance

Shares of NASDAQ PBYI opened at $2.91 on Friday. The stock has a 50 day moving average price of $3.11 and a 200 day moving average price of $3.04. Puma Biotechnology has a 52 week low of $2.23 and a 52 week high of $5.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The stock has a market capitalization of $144.43 million, a PE ratio of 6.06 and a beta of 1.29.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in shares of Puma Biotechnology by 23.6% in the 4th quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 5,080 shares during the period. Price T Rowe Associates Inc. MD increased its position in Puma Biotechnology by 42.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,083 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 5,726 shares in the last quarter. Prudential Financial Inc. increased its position in Puma Biotechnology by 5.8% in the 4th quarter. Prudential Financial Inc. now owns 106,285 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 5,800 shares in the last quarter. Wells Fargo & Company MN increased its position in Puma Biotechnology by 36.5% in the 4th quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 6,126 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Puma Biotechnology by 167.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 6,351 shares in the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

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.