Puma Biotechnology's (PBYI) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $7.00 price objective on the biopharmaceutical company's stock.

Separately, StockNews.com cut Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th.

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI traded up $0.06 during trading on Monday, hitting $2.81. The company had a trading volume of 267,496 shares, compared to its average volume of 462,987. Puma Biotechnology has a fifty-two week low of $2.22 and a fifty-two week high of $7.73. The firm has a market capitalization of $137.94 million, a price-to-earnings ratio of 5.85 and a beta of 1.08. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $2.99.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The business had revenue of $80.50 million during the quarter, compared to analysts' expectations of $71.32 million. During the same period in the prior year, the firm posted $0.12 EPS. On average, research analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds have recently added to or reduced their stakes in PBYI. Franklin Resources Inc. bought a new stake in Puma Biotechnology in the third quarter worth about $41,000. Virtu Financial LLC purchased a new stake in shares of Puma Biotechnology in the 3rd quarter valued at approximately $68,000. Barclays PLC grew its position in shares of Puma Biotechnology by 146.5% during the third quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company's stock worth $199,000 after buying an additional 46,370 shares in the last quarter. Jane Street Group LLC boosted its stake in Puma Biotechnology by 103.9% in the third quarter. Jane Street Group LLC now owns 32,129 shares of the biopharmaceutical company's stock valued at $82,000 after acquiring an additional 16,374 shares in the last quarter. Finally, State Street Corp increased its stake in Puma Biotechnology by 17.0% in the 3rd quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company's stock valued at $1,534,000 after buying an additional 87,504 shares during the period. 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.