StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a buy rating to a strong-buy rating in a research report released on Friday.
Separately, HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, February 28th.
View Our Latest Stock Report on Puma Biotechnology
Puma Biotechnology Stock Performance
Shares of PBYI traded down $0.02 during midday trading on Friday, hitting $2.98. 173,462 shares of the stock traded hands, compared to its average volume of 440,825. The business's 50 day moving average price is $3.11 and its two-hundred day moving average price is $3.03. The firm has a market capitalization of $147.84 million, a PE ratio of 6.21 and a beta of 1.34. 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 has a 1-year low of $2.23 and a 1-year high of $5.26.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million during 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%. Equities research analysts predict that Puma Biotechnology will post 0.31 EPS for the current fiscal year.
Hedge Funds Weigh In On Puma Biotechnology
Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Puma Biotechnology by 17.0% during the third quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company's stock valued at $1,534,000 after buying an additional 87,504 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Puma Biotechnology by 103.9% during the 3rd quarter. Jane Street Group LLC now owns 32,129 shares of the biopharmaceutical company's stock valued at $82,000 after purchasing an additional 16,374 shares in the last quarter. Barclays PLC grew its stake in shares of Puma Biotechnology by 146.5% in 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 during the last quarter. Virtu Financial LLC bought a new stake in shares of Puma Biotechnology in the 3rd quarter worth approximately $68,000. Finally, Franklin Resources Inc. acquired a new stake in Puma Biotechnology during the third quarter valued at approximately $41,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.
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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