Puma Biotechnology (NASDAQ:PBYI) Raised 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 report released on Monday.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a report on Friday.

Puma Biotechnology Stock Up 14.6 %

Puma Biotechnology stock traded up $0.42 during trading hours on Monday, hitting $3.30. The company had a trading volume of 1,715,521 shares, compared to its average volume of 461,241. The firm has a market capitalization of $161.87 million, a P/E ratio of 6.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. The firm’s fifty day moving average is $2.69 and its 200-day moving average is $3.29. Puma Biotechnology has a fifty-two week low of $2.22 and a fifty-two week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 45.71%. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. During the same quarter in the prior year, the business posted $0.12 EPS. On average, research analysts forecast that Puma Biotechnology will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. lifted its position in shares of Puma Biotechnology by 8.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock worth $9,984,000 after purchasing an additional 246,264 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Puma Biotechnology by 2.0% during the first quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock worth $10,366,000 after buying an additional 39,239 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Puma Biotechnology by 1.4% during the second quarter. Renaissance Technologies LLC now owns 1,753,013 shares of the biopharmaceutical company’s stock worth $5,715,000 after buying an additional 23,600 shares during the last quarter. Great Point Partners LLC increased its holdings in Puma Biotechnology by 10.6% during the second quarter. Great Point Partners LLC now owns 1,486,544 shares of the biopharmaceutical company’s stock worth $4,846,000 after buying an additional 142,916 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Puma Biotechnology by 98.5% during the second quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock worth $2,409,000 after buying an additional 366,653 shares during the last quarter. Institutional investors 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.