Puma Biotechnology (NASDAQ:PBYI) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Puma Biotechnology Trading Up 2.2 %

NASDAQ:PBYI opened at $2.81 on Monday. Puma Biotechnology has a 1 year low of $2.22 and a 1 year high of $7.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The stock has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.99. The stock has a market capitalization of $137.94 million, a price-to-earnings ratio of 5.85 and a beta of 1.08.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $80.50 million during the quarter, compared to the consensus estimate of $71.32 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. During the same quarter last year, the firm posted $0.12 EPS. As a group, sell-side analysts anticipate that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Puma Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of PBYI. Bank of New York Mellon Corp increased its stake in shares of Puma Biotechnology by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock worth $1,007,000 after purchasing an additional 120,104 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Puma Biotechnology in the second quarter worth $335,000. Rhumbline Advisers lifted its position in shares of Puma Biotechnology by 2,309.9% in the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 48,184 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Puma Biotechnology during the second quarter valued at $54,000. Finally, Rice Hall James & Associates LLC raised its stake in Puma Biotechnology by 3.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 4,686 shares during the last quarter. Hedge funds and other institutional investors 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.