StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.
Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Puma Biotechnology in a research note on Friday.
Get Our Latest Research Report on PBYI
Puma Biotechnology Stock Up 1.2 %
NASDAQ PBYI traded up $0.04 during trading on Friday, reaching $3.39. 421,410 shares of the company's stock were exchanged, compared to its average volume of 460,410. The company has a 50 day moving average price of $3.03 and a two-hundred day moving average price of $2.86. The stock has a market cap of $166.41 million, a P/E ratio of 7.06 and a beta of 1.09. Puma Biotechnology has a 1 year low of $2.23 and a 1 year high of $6.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.29. The company had revenue of $59.10 million during the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. On average, equities research analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current fiscal year.
Insider Activity
In other news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm's 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 completion of the sale, the insider now owns 108,951 shares in the company, valued at approximately $343,195.65. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Auerbach sold 33,841 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $106,599.15. Following the transaction, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $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. Corporate insiders own 23.70% of the company's stock.
Institutional Investors Weigh In On Puma Biotechnology
A number of hedge funds have recently added to or reduced their stakes in PBYI. Los Angeles Capital Management LLC purchased a new position in shares of Puma Biotechnology during the 3rd quarter worth approximately $627,000. JPMorgan Chase & Co. raised its position in Puma Biotechnology by 169.5% in the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company's stock worth $124,000 after acquiring an additional 30,499 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Puma Biotechnology by 83.9% in the fourth quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 11,252 shares during the period. FMR LLC lifted its holdings in Puma Biotechnology by 27.1% in the third quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company's stock valued at $302,000 after acquiring an additional 25,183 shares during the period. Finally, Barclays PLC boosted its position in shares of Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company's stock worth $199,000 after purchasing an additional 46,370 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company's stock.
About Puma Biotechnology
(
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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