Puma Biotechnology (NASDAQ:PBYI) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a buy rating in a research note published on Friday morning.

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

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock opened at $4.86 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $234.45 million, a P/E ratio of 14.73, a P/E/G ratio of 2.77 and a beta of 1.31. The business has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $4.69. Puma Biotechnology has a 12 month low of $2.13 and a 12 month high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.07). Puma Biotechnology had a net margin of 6.79% and a return on equity of 35.49%. The firm had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $73.22 million. On average, equities analysts forecast that Puma Biotechnology will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. bought a new position in shares of Puma Biotechnology during the third quarter valued at $262,000. Assenagon Asset Management S.A. increased its holdings in Puma Biotechnology by 23.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after buying an additional 15,897 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Puma Biotechnology in the 4th quarter worth about $66,000. GSA Capital Partners LLP increased its holdings in Puma Biotechnology by 143.8% in the 3rd quarter. GSA Capital Partners LLP now owns 279,629 shares of the biopharmaceutical company’s stock worth $735,000 after buying an additional 164,931 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in Puma Biotechnology by 26.6% in the 3rd quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 5,190 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors.

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.