Puma Biotechnology (NASDAQ:PBYI) Cut to Buy at Wall Street Zen

Puma Biotechnology (NASDAQ:PBYI) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings downgraded Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Puma Biotechnology Stock Up 22.2%

Puma Biotechnology stock opened at $5.99 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 1.73. Puma Biotechnology has a one year low of $2.32 and a one year high of $6.07. The company has a 50-day simple moving average of $5.02 and a 200-day simple moving average of $4.10. The firm has a market capitalization of $301.72 million, a P/E ratio of 6.11 and a beta of 1.35.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. Puma Biotechnology had a net margin of 20.38% and a return on equity of 53.15%. The firm had revenue of $54.48 million during the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds have recently modified their holdings of the company. LSV Asset Management raised its stake in shares of Puma Biotechnology by 903.3% in the 2nd quarter. LSV Asset Management now owns 535,740 shares of the biopharmaceutical company’s stock worth $1,838,000 after buying an additional 482,340 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Puma Biotechnology by 70.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company’s stock worth $2,462,000 after acquiring an additional 344,321 shares during the period. Ritholtz Wealth Management raised its position in Puma Biotechnology by 139.0% in the third quarter. Ritholtz Wealth Management now owns 470,767 shares of the biopharmaceutical company’s stock worth $2,500,000 after acquiring an additional 273,782 shares in the last quarter. American Century Companies Inc. lifted its holdings in Puma Biotechnology by 21.2% in the 1st quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company’s stock valued at $3,403,000 after acquiring an additional 201,284 shares during the last quarter. Finally, Acorn Capital Advisors LLC boosted its position in shares of Puma Biotechnology by 4.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock valued at $14,170,000 after purchasing an additional 191,247 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.