Puma Biotechnology (NASDAQ:PBYI) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYIFree Report) from a hold rating to a buy rating in a report issued on Tuesday morning.

Separately, HC Wainwright reduced their price target on Puma Biotechnology from $8.00 to $7.00 and set a buy rating on the stock in a research report on Friday, March 1st.

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Puma Biotechnology Price Performance

NASDAQ PBYI opened at $5.28 on Tuesday. The stock has a fifty day moving average of $5.59 and a 200-day moving average of $4.27. The stock has a market capitalization of $254.55 million, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 3.02 and a beta of 1.28. Puma Biotechnology has a 52 week low of $2.13 and a 52 week high of $7.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.50 and a current ratio of 1.57.

Puma Biotechnology (NASDAQ:PBYIGet Free Report) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.07). The firm had revenue of $72.20 million during the quarter, compared to analyst estimates of $73.22 million. Puma Biotechnology had a net margin of 9.16% and a return on equity of 58.21%. On average, equities research analysts forecast that Puma Biotechnology will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of Puma Biotechnology in the second quarter valued at about $32,000. Balyasny Asset Management LLC acquired a new stake in shares of Puma Biotechnology in the third quarter valued at about $33,000. UBS Group AG increased its position in shares of Puma Biotechnology by 217.6% in the first quarter. UBS Group AG now owns 10,925 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 7,485 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Puma Biotechnology in the first quarter valued at about $35,000. Finally, BNP Paribas Arbitrage SNC increased its position in shares of Puma Biotechnology by 45.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 19,918 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 6,212 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors.

About Puma Biotechnology

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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.

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