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

Puma Biotechnology (NASDAQ:PBYI - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $7.00 price target on the biopharmaceutical company's stock. HC Wainwright's price objective would suggest a potential upside of 106.49% from the stock's previous close.

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

Puma Biotechnology Price Performance

Puma Biotechnology stock traded up $0.04 during trading hours on Friday, hitting $3.39. 421,290 shares of the company traded hands, compared to its average volume of 460,410. Puma Biotechnology has a 1-year low of $2.23 and a 1-year high of $6.06. The firm has a market cap of $166.41 million, a P/E ratio of 7.06 and a beta of 1.09. The firm's 50-day simple moving average is $3.03 and its two-hundred day simple moving average is $2.86. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.29. The business had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. As a group, analysts forecast that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the sale, the insider now directly owns 108,951 shares of the company's stock, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alan H. Auerbach sold 33,841 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $106,599.15. Following the sale, the chief executive officer now directly owns 7,029,674 shares in the company, valued at $22,143,473.10. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.70% of the company's stock.

Institutional Trading of Puma Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in shares of Puma Biotechnology in the third quarter worth about $627,000. Victory Capital Management Inc. boosted its stake in Puma Biotechnology by 111.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company's stock worth $89,000 after purchasing an additional 18,532 shares during the period. Royce & Associates LP boosted its stake in Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company's stock worth $51,000 after purchasing an additional 8,427 shares during the period. Prospera Financial Services Inc grew its position in Puma Biotechnology by 12.9% during the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company's stock worth $431,000 after purchasing an additional 19,315 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Puma Biotechnology by 3.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company's stock valued at $940,000 after purchasing an additional 13,941 shares during the period. Institutional investors and hedge funds 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.