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

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

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

Puma Biotechnology Trading Down 2.7 %

NASDAQ PBYI traded down $0.08 during trading hours on Wednesday, reaching $2.88. The company’s stock had a trading volume of 163,031 shares, compared to its average volume of 441,907. Puma Biotechnology has a 52 week low of $2.23 and a 52 week high of $5.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The stock has a market cap of $142.88 million, a P/E ratio of 6.00 and a beta of 1.34. The firm has a fifty day simple moving average of $3.09 and a 200-day simple moving average of $3.01.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly 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 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%. Equities analysts forecast that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

A number of large investors have recently modified their holdings of the company. LPL Financial LLC boosted its holdings 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 worth $81,000 after buying an additional 5,080 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 5,726 shares during the last quarter. Prudential Financial Inc. boosted its stake in Puma Biotechnology by 5.8% in the fourth quarter. Prudential Financial Inc. now owns 106,285 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 5,800 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Puma Biotechnology by 36.5% during the 4th quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 6,126 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Puma Biotechnology by 167.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 6,351 shares during the last quarter. 61.29% of the stock is currently owned by 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.