Puma Biotechnology (NASDAQ:PBYI) Upgraded at Wall Street Zen

Puma Biotechnology (NASDAQ:PBYI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Puma Biotechnology in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Puma Biotechnology presently has an average rating of “Hold”.

Puma Biotechnology Trading Down 2.9%

Shares of PBYI opened at $6.05 on Friday. The stock has a 50 day moving average of $6.53 and a 200 day moving average of $5.63. The company has a market capitalization of $307.82 million, a price-to-earnings ratio of 9.92 and a beta of 1.26. Puma Biotechnology has a 12 month low of $2.58 and a 12 month high of $7.68.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $68.60 million. Puma Biotechnology had a return on equity of 27.80% and a net margin of 13.62%. As a group, equities research analysts predict that Puma Biotechnology will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Puma Biotechnology

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 18,012 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $105,910.56. Following the completion of the sale, the chief executive officer directly owned 7,145,951 shares of the company’s stock, valued at $42,018,191.88. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas M. Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the sale, the insider directly owned 155,907 shares of the company’s stock, valued at $916,733.16. This represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 43,937 shares of company stock valued at $257,513. 23.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Puma Biotechnology

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Puma Biotechnology in the fourth quarter worth about $49,000. State of Alaska Department of Revenue bought a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $50,000. ProShare Advisors LLC bought a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $60,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Puma Biotechnology during the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.