Puma Biotechnology (NASDAQ:PBYI) Upgraded 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 released on Wednesday morning.

Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Puma Biotechnology in a report on Friday, February 28th.

Puma Biotechnology Trading Down 0.7 %

NASDAQ:PBYI traded down $0.02 during trading hours on Wednesday, hitting $2.84. 121,371 shares of the company were exchanged, compared to its average volume of 441,788. The stock has a market capitalization of $140.90 million, a price-to-earnings ratio of 5.92 and a beta of 1.34. Puma Biotechnology has a one year low of $2.23 and a one year high of $5.34. The company has a fifty day simple moving average of $3.10 and a 200 day simple moving average of $3.02. The company has a current ratio of 1.42, a quick ratio of 1.40 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, topping analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. Sell-side analysts expect that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Institutional Trading of Puma Biotechnology

Several hedge funds have recently modified their holdings of PBYI. JPMorgan Chase & Co. raised its holdings in shares of Puma Biotechnology by 169.5% during the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 30,499 shares during the period. SG Americas Securities LLC boosted 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 worth $75,000 after acquiring an additional 11,252 shares in the last quarter. FMR LLC grew its stake 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. Barclays PLC increased its holdings in shares of Puma Biotechnology by 146.5% during the third quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company's stock valued at $199,000 after acquiring an additional 46,370 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Puma Biotechnology during the third quarter valued at approximately $41,000. Institutional investors own 61.29% of the company's stock.

About Puma Biotechnology

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.