Puma Biotechnology (NASDAQ:PBYI) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Separately, HC Wainwright reissued a buy rating and set a $7.00 target price on shares of Puma Biotechnology in a report on Friday.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $4.86 on Friday. The firm has a 50 day moving average of $5.35 and a 200-day moving average of $4.69. The stock has a market capitalization of $234.45 million, a PE ratio of 14.73, a PEG ratio of 2.77 and a beta of 1.31. Puma Biotechnology has a 12 month low of $2.13 and a 12 month high of $7.73. The company has a current ratio of 1.46, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07.

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

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors have recently added to or reduced their stakes in PBYI. Great Point Partners LLC bought a new stake in shares of Puma Biotechnology in the 4th quarter valued at $4,734,000. GSA Capital Partners LLP boosted its stake in shares of Puma Biotechnology by 143.8% in the 3rd quarter. GSA Capital Partners LLP now owns 279,629 shares of the biopharmaceutical company’s stock valued at $735,000 after purchasing an additional 164,931 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Puma Biotechnology in the 3rd quarter valued at $262,000. Jump Financial LLC boosted its stake in shares of Puma Biotechnology by 131.7% in the 4th quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 32,510 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Puma Biotechnology by 23.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 15,897 shares during the last quarter. 61.29% of the stock is 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.