HC Wainwright Reaffirms “Buy” Rating for Puma Biotechnology (NASDAQ:PBYI)

HC Wainwright reiterated their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a report issued on Friday, Benzinga reports. HC Wainwright currently has a $7.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com lowered Puma Biotechnology from a buy rating to a hold rating in a report on Wednesday, April 10th.

Puma Biotechnology Stock Down 4.9 %

PBYI traded down $0.24 on Friday, reaching $4.62. The company’s stock had a trading volume of 583,454 shares, compared to its average volume of 535,455. The company has a market capitalization of $222.87 million, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.77 and a beta of 1.31. Puma Biotechnology has a fifty-two week low of $2.13 and a fifty-two week high of $7.73. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average of $5.35 and a two-hundred day moving average of $4.69.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.07). The company had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $73.22 million. Puma Biotechnology had a return on equity of 35.49% and a net margin of 6.79%. As a group, analysts forecast that Puma Biotechnology will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds have recently modified their holdings of the business. Great Point Partners LLC purchased a new stake in Puma Biotechnology in the 4th quarter valued at $4,734,000. GSA Capital Partners LLP raised its holdings in shares of Puma Biotechnology by 143.8% in the third quarter. GSA Capital Partners LLP now owns 279,629 shares of the biopharmaceutical company’s stock valued at $735,000 after buying an additional 164,931 shares during the last quarter. Citigroup Inc. purchased a new stake in shares of Puma Biotechnology in the third quarter valued at about $262,000. Assenagon Asset Management S.A. boosted its stake in shares of Puma Biotechnology by 23.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after buying an additional 15,897 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Puma Biotechnology by 131.7% during the fourth quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock worth $248,000 after buying an additional 32,510 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

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.