Puma Biotechnology (NASDAQ:PBYI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.76 and traded as high as $6.23. Puma Biotechnology shares last traded at $6.13, with a volume of 182,822 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PBYI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Puma Biotechnology in a research note on Thursday, January 22nd. Wall Street Zen raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Puma Biotechnology Trading Up 5.8%

The firm has a market capitalization of $343.95 million, a P/E ratio of 11.08 and a beta of 1.19. The stock’s 50-day simple moving average is $6.52 and its 200-day simple moving average is $5.78.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $68.60 million. Puma Biotechnology had a return on equity of 27.80% and a net margin of 13.62%. On average, equities research analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current year.

Insider Activity at Puma Biotechnology

In other news, CEO Alan H. Auerbach sold 18,012 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $105,910.56. Following the completion of the sale, the chief executive officer owned 7,145,951 shares in the company, valued at $42,018,191.88. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas M. Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the sale, the insider directly owned 155,907 shares of the company’s stock, valued at $916,733.16. This represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 43,937 shares of company stock valued at $257,513. 23.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Several hedge funds have recently made changes to their positions in PBYI. Cerity Partners LLC purchased a new position in Puma Biotechnology during the 2nd quarter valued at about $36,000. BNP Paribas Financial Markets grew its position in Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,290 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Puma Biotechnology in the 4th quarter worth $49,000. State of Alaska Department of Revenue purchased a new position in shares of Puma Biotechnology in the fourth quarter worth about $50,000. Finally, Caprock Group LLC purchased a new position in Puma Biotechnology in the 3rd quarter worth approximately $59,000. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.