Puma Biotechnology (NASDAQ:PBYI) Upgraded by Wall Street Zen to Buy Rating

Puma Biotechnology (NASDAQ:PBYI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Puma Biotechnology Stock Performance

Shares of PBYI opened at $5.73 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. The stock has a market cap of $288.62 million, a P/E ratio of 5.85 and a beta of 1.30. The company has a 50-day moving average of $3.58 and a two-hundred day moving average of $3.28. Puma Biotechnology has a 12-month low of $2.22 and a 12-month high of $5.81.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, Director Alessandra Cesano sold 27,000 shares of Puma Biotechnology stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $3.37, for a total transaction of $90,990.00. Following the completion of the transaction, the director owned 41,850 shares in the company, valued at approximately $141,034.50. The trade was a 39.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Dorval sold 11,610 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $3.40, for a total transaction of $39,474.00. Following the completion of the transaction, the director directly owned 75,390 shares of the company’s stock, valued at approximately $256,326. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,649 shares of company stock valued at $596,914 in the last quarter. 23.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Puma Biotechnology

A number of institutional investors have recently modified their holdings of PBYI. Acorn Capital Advisors LLC acquired a new position in shares of Puma Biotechnology in the fourth quarter valued at approximately $7,475,000. LSV Asset Management raised its position in shares of Puma Biotechnology by 903.3% in the second quarter. LSV Asset Management now owns 535,740 shares of the biopharmaceutical company’s stock valued at $1,838,000 after buying an additional 482,340 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Puma Biotechnology by 70.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company’s stock valued at $2,462,000 after buying an additional 344,321 shares during the last quarter. American Century Companies Inc. raised its position in shares of Puma Biotechnology by 21.2% in the first quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company’s stock valued at $3,403,000 after buying an additional 201,284 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in Puma Biotechnology in the second quarter valued at approximately $676,000. Institutional investors and hedge funds 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.