Puma Biotechnology (NASDAQ:PBYI) Raised to "Strong-Buy" at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a buy rating to a strong-buy rating in a research note published on Friday morning.

Separately, HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 2nd.

Puma Biotechnology Trading Up 3.5 %

PBYI stock traded up $0.10 during midday trading on Friday, reaching $2.95. 429,623 shares of the company traded hands, compared to its average volume of 452,300. The firm has a market capitalization of $144.70 million, a price-to-earnings ratio of 15.69 and a beta of 1.09. The business has a 50 day moving average of $2.62 and a 200-day moving average of $3.41. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $47.10 million for the quarter, compared to analysts' expectations of $43.99 million. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, sell-side analysts expect that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Patrick Miller sold 23,358 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the transaction, the director now owns 47,000 shares of the company's stock, valued at $164,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.70% of the stock is owned by insiders.

Institutional Trading of Puma Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC boosted its position in Puma Biotechnology by 3.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company's stock valued at $472,000 after acquiring an additional 4,686 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Puma Biotechnology by 72.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 8,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Puma Biotechnology during the 1st quarter valued at $57,000. Squarepoint Ops LLC lifted its holdings in shares of Puma Biotechnology by 17.7% during the 2nd quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company's stock valued at $233,000 after purchasing an additional 10,757 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Puma Biotechnology during the 2nd quarter valued at $54,000. 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.