Puma Biotechnology (NASDAQ:PBYI) Rating Increased 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 reaffirmed a buy rating and set a $7.00 price objective on shares of Puma Biotechnology in a report on Friday.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $4.62 on Friday. The firm has a market cap of $222.87 million, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.77 and a beta of 1.31. The firm has a fifty day moving average price of $5.31 and a 200 day moving average price of $4.70. Puma Biotechnology has a fifty-two week low of $2.13 and a fifty-two week high of $7.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.38 and a current ratio of 1.46.

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

Institutional Investors Weigh In On Puma Biotechnology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great Point Partners LLC bought a new stake in shares of Puma Biotechnology in the 4th quarter worth about $4,734,000. GSA Capital Partners LLP lifted its stake in Puma Biotechnology by 143.8% in the third quarter. GSA Capital Partners LLP now owns 279,629 shares of the biopharmaceutical company’s stock worth $735,000 after purchasing an additional 164,931 shares during the last quarter. Citigroup Inc. bought a new position in shares of Puma Biotechnology during the third quarter valued at approximately $262,000. Assenagon Asset Management S.A. lifted its stake in shares of Puma Biotechnology by 23.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after acquiring an additional 15,897 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Puma Biotechnology by 131.7% during the 4th quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock valued at $248,000 after acquiring an additional 32,510 shares during the period. 61.29% of the stock is currently owned by hedge funds and other 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.