Puma Biotechnology (NASDAQ:PBYI) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.93 and traded as high as $3.41. Puma Biotechnology shares last traded at $3.34, with a volume of 502,104 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on PBYI. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a report on Friday, February 28th. StockNews.com lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th.

Puma Biotechnology Stock Down 1.2 %

The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $169.17 million, a price-to-earnings ratio of 7.10 and a beta of 1.33. The business has a fifty day moving average price of $3.08 and a two-hundred day moving average price of $2.93.

Puma Biotechnology (NASDAQ:PBYI) last released its 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 the consensus estimate of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. On average, equities analysts predict that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Puma Biotechnology news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the sale, the insider now directly owns 108,951 shares of the company’s stock, valued at $343,195.65. The trade was a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Alan H. Auerbach sold 33,841 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $106,599.15. Following the completion of the sale, the chief executive officer now owns 7,029,674 shares of the company’s stock, valued at $22,143,473.10. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Puma Biotechnology

Several large investors have recently made changes to their positions in PBYI. Acorn Capital Advisors LLC bought a new position in Puma Biotechnology in the 4th quarter worth approximately $7,475,000. Kennedy Capital Management LLC increased its position in Puma Biotechnology by 36.5% during the fourth quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company’s stock worth $2,469,000 after acquiring an additional 216,329 shares during the period. Dimensional Fund Advisors LP raised its stake in Puma Biotechnology by 24.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company’s stock valued at $2,635,000 after purchasing an additional 170,968 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Puma Biotechnology by 287.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,608 shares of the biopharmaceutical company’s stock valued at $679,000 after purchasing an additional 165,220 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Puma Biotechnology by 266.2% in the 4th quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company’s stock valued at $553,000 after purchasing an additional 131,916 shares during the period. 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.