Puma Biotechnology (NASDAQ:PBYI) Downgraded by StockNews.com to Buy

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

Separately, HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Puma Biotechnology in a report on Wednesday.

Puma Biotechnology Stock Up 3.4 %

PBYI stock traded up $0.10 during mid-day trading on Friday, reaching $3.00. The company had a trading volume of 538,317 shares, compared to its average volume of 468,496. 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 50 day simple moving average of $2.76 and a two-hundred day simple moving average of $3.19. Puma Biotechnology has a 52 week low of $2.22 and a 52 week high of $7.73. The company has a market capitalization of $147.26 million, a price-to-earnings ratio of 6.25 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.10. The company had revenue of $80.50 million during the quarter, compared to analysts' expectations of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same quarter last year, the company posted $0.12 EPS. As a group, equities analysts predict that Puma Biotechnology will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Puma Biotechnology during the 3rd quarter worth $34,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Puma Biotechnology during the third quarter worth about $44,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company's stock valued at $48,000 after buying an additional 8,000 shares during the period. Royce & Associates LP raised its holdings in Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company's stock valued at $51,000 after buying an additional 8,427 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Puma Biotechnology during the 2nd quarter worth approximately $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.

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