Puma Biotechnology (NASDAQ:PBYI) Stock Rating Lowered by StockNews.com

Puma Biotechnology (NASDAQ:PBYI) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, August 2nd.

Puma Biotechnology Price Performance

PBYI opened at $2.72 on Tuesday. The business has a fifty day moving average of $3.42 and a 200 day moving average of $4.57. Puma Biotechnology has a 52-week low of $2.13 and a 52-week high of $7.73. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a market cap of $133.17 million, a P/E ratio of 8.23 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $47.10 million during the quarter, compared to analyst estimates of $43.99 million. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. During the same period in the previous year, the company posted $0.05 EPS. As a group, sell-side analysts anticipate that Puma Biotechnology will post 0.25 EPS for the current year.

Insider Buying and Selling at Puma Biotechnology

In other Puma Biotechnology news, Director Troy Edward Wilson sold 27,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the sale, the director now owns 350 shares in the company, valued at approximately $1,165.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $3.33, for a total value of $89,910.00. Following the sale, the director now owns 350 shares in the company, valued at $1,165.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $3.70, for a total value of $81,104.00. Following the transaction, the chief executive officer now owns 7,063,515 shares in the company, valued at approximately $26,135,005.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,263 shares of company stock worth $376,379. 23.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds have recently bought and sold shares of PBYI. Crestline Management LP raised its holdings in shares of Puma Biotechnology by 6.5% during the fourth quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 2,135 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Puma Biotechnology by 3.3% in the second quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 4,686 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Puma Biotechnology in the first quarter valued at approximately $57,000. Squarepoint Ops LLC increased its holdings in shares of Puma Biotechnology by 17.7% in the second quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 10,757 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Puma Biotechnology in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors 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.