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

Puma Biotechnology (NASDAQ:PBYI) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a report on Friday, February 28th.

Puma Biotechnology Trading Up 4.2 %

Shares of Puma Biotechnology stock opened at $3.21 on Friday. The company has a fifty day simple moving average of $3.13 and a 200-day simple moving average of $3.03. Puma Biotechnology has a 12-month low of $2.23 and a 12-month high of $5.26. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The stock has a market cap of $159.32 million, a price-to-earnings ratio of 6.69 and a beta of 1.29.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.29. The firm had revenue of $59.10 million during the quarter, compared to analysts’ expectations of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. On average, equities analysts forecast that Puma Biotechnology will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of PBYI. Gateway Wealth Partners LLC purchased a new stake in shares of Puma Biotechnology in the fourth quarter valued at $31,000. Tower Research Capital LLC TRC increased its stake in shares of Puma Biotechnology by 167.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 6,351 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Puma Biotechnology during the 4th quarter worth about $33,000. ProShare Advisors LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter worth approximately $36,000. Finally, C2C Wealth Management LLC purchased a new stake in Puma Biotechnology in the fourth quarter valued at approximately $37,000. 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.