StockNews.com downgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.
Separately, HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Puma Biotechnology in a report on Friday, February 28th.
View Our Latest Analysis on PBYI
Puma Biotechnology Stock Performance
NASDAQ PBYI traded down $0.04 during midday trading on Friday, hitting $3.39. The company had a trading volume of 638,080 shares, compared to its average volume of 455,779. The firm has a fifty day simple moving average of $3.07 and a two-hundred day simple moving average of $2.89. Puma Biotechnology has a fifty-two week low of $2.23 and a fifty-two week high of $6.06. 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 market cap of $168.18 million, a price-to-earnings ratio of 7.06 and a beta of 1.33.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.29. The business had revenue of $59.10 million for the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. Equities analysts forecast that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Puma Biotechnology news, CEO Alan H. Auerbach sold 33,841 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $106,599.15. Following the completion of the transaction, the chief executive officer now directly owns 7,029,674 shares in the company, valued at $22,143,473.10. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of Puma Biotechnology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $29,726.55. Following the transaction, the insider now directly owns 108,951 shares of the company's stock, valued at approximately $343,195.65. The trade was a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.70% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Puma Biotechnology
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC bought a new position in shares of Puma Biotechnology in the fourth quarter valued at approximately $31,000. Tower Research Capital LLC TRC grew its holdings in shares of Puma Biotechnology by 167.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 6,351 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at $33,000. ProShare Advisors LLC acquired a new position in Puma Biotechnology during the 4th quarter worth about $36,000. Finally, C2C Wealth Management LLC acquired a new position in Puma Biotechnology during the 4th quarter worth about $37,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Puma Biotechnology Company Profile
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Get Free Report)
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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