Puma Biotechnology’s (PBYI) “Buy” Rating Reiterated at HC Wainwright

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 100.00% from the company’s current price.

Separately, StockNews.com raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th.

Puma Biotechnology Trading Down 2.4 %

NASDAQ:PBYI opened at $3.50 on Friday. The firm has a market capitalization of $168.84 million, a PE ratio of 10.61 and a beta of 1.09. Puma Biotechnology has a 12 month low of $2.13 and a 12 month high of $7.73. The business’s 50-day moving average is $3.47 and its two-hundred day moving average is $4.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.46 and a quick ratio of 1.38.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.12. The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $41.53 million. Puma Biotechnology had a net margin of 6.79% and a return on equity of 35.49%. Research analysts predict that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Troy Edward Wilson sold 27,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the completion of the transaction, the director now directly owns 350 shares in the company, valued at approximately $1,165.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Alan H. Auerbach sold 18,885 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $3.27, for a total value of $61,753.95. Following the sale, the chief executive officer now owns 7,085,435 shares in the company, valued at approximately $23,169,372.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $3.33, for a total transaction of $89,910.00. Following the completion of the sale, the director now owns 350 shares in the company, valued at approximately $1,165.50. The disclosure for this sale can be found here. Insiders have sold 85,905 shares of company stock worth $294,859 in the last three months. 23.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors have recently modified their holdings of PBYI. Great Point Partners LLC acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at about $4,734,000. Bank of New York Mellon Corp raised its stake in shares of Puma Biotechnology by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 120,104 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $335,000. Assenagon Asset Management S.A. raised its stake in shares of Puma Biotechnology by 99.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock valued at $457,000 after purchasing an additional 70,060 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Puma Biotechnology in the 1st quarter valued at about $329,000. 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.