Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at StockNews.com

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

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

Puma Biotechnology Stock Down 0.7 %

Shares of NASDAQ:PBYI opened at $2.86 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Puma Biotechnology has a twelve month low of $2.23 and a twelve month high of $5.34. The company has a market capitalization of $141.89 million, a PE ratio of 5.96 and a beta of 1.34. The firm has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.01.

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

Institutional Investors Weigh In On Puma Biotechnology

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

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.