Puma Biotechnology (NASDAQ:PBYI) Upgraded at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a report issued on Monday.

Separately, HC Wainwright restated a buy rating and set a $7.00 price objective on shares of Puma Biotechnology in a research report on Friday.

Puma Biotechnology Stock Performance

Shares of PBYI traded up $0.44 during mid-day trading on Monday, reaching $4.03. The company’s stock had a trading volume of 685,256 shares, compared to its average volume of 514,352. The company has a current ratio of 1.46, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. Puma Biotechnology has a 1-year low of $2.13 and a 1-year high of $7.73. The business has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $4.64. The stock has a market cap of $194.41 million, a P/E ratio of 11.70 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Puma Biotechnology had a return on equity of 18.44% and a net margin of 4.01%. The business had revenue of $47.10 million during the quarter, compared to the consensus estimate of $43.99 million. During the same quarter last year, the firm posted $0.05 EPS. As a group, equities research analysts anticipate that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Troy Edward Wilson sold 27,000 shares of the firm’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 transaction, the director now directly owns 350 shares of the company’s stock, valued at $1,165.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Puma Biotechnology news, Director Troy Edward Wilson sold 27,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.33, for a total transaction of $89,910.00. Following the transaction, the director now owns 350 shares in the company, valued at approximately $1,165.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 21,920 shares of Puma Biotechnology stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total transaction of $81,104.00. Following the completion of the sale, the chief executive officer now owns 7,063,515 shares of the company’s stock, valued at $26,135,005.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,905 shares of company stock valued at $294,859. 23.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Puma Biotechnology

A number of large investors have recently bought and sold shares of the company. Great Point Partners LLC bought a new stake in shares of Puma Biotechnology during the 4th quarter worth approximately $4,734,000. Jump Financial LLC lifted its stake in Puma Biotechnology by 131.7% during the fourth quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock worth $248,000 after purchasing an additional 32,510 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Puma Biotechnology by 23.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after purchasing an additional 15,897 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology in the 1st quarter valued at $57,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Puma Biotechnology by 127.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock valued at $409,000 after purchasing an additional 43,229 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.