Puma Biotechnology (NASDAQ:PBYI) Stock Crosses Above 200-Day Moving Average of $4.46

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.46 and traded as high as $5.30. Puma Biotechnology shares last traded at $5.17, with a volume of 248,185 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PBYI. HC Wainwright cut their target price on Puma Biotechnology from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 1st. StockNews.com cut Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th.

Puma Biotechnology Stock Performance

The company has a market cap of $249.25 million, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 3.04 and a beta of 1.28. The firm has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $4.46. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.23.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.07). The company 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, sell-side analysts predict that Puma Biotechnology, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBYI. Great Point Partners LLC acquired a new stake in Puma Biotechnology in the fourth quarter valued at $4,734,000. Marshall Wace LLP acquired a new stake in Puma Biotechnology in the fourth quarter valued at $1,359,000. Millennium Management LLC grew its holdings in Puma Biotechnology by 16.0% in the second quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock valued at $6,317,000 after purchasing an additional 304,969 shares during the last quarter. EAM Investors LLC acquired a new stake in Puma Biotechnology in the fourth quarter valued at $1,154,000. Finally, Citadel Advisors LLC grew its holdings in Puma Biotechnology by 621.1% in the second quarter. Citadel Advisors LLC now owns 299,477 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 257,947 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

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.