Wall Street Zen Upgrades Puma Biotechnology (NASDAQ:PBYI) to Strong-Buy

Puma Biotechnology (NASDAQ:PBYI) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

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 data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Puma Biotechnology Trading Down 0.5%

NASDAQ:PBYI opened at $6.12 on Friday. The firm’s fifty day simple moving average is $6.54 and its 200 day simple moving average is $5.69. Puma Biotechnology has a twelve month low of $2.58 and a twelve month high of $7.68. The firm has a market capitalization of $311.39 million, a price-to-earnings ratio of 10.03 and a beta of 1.26.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $75.50 million during 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%. On average, analysts predict that Puma Biotechnology will post 0.31 earnings per share for the current year.

Insider Activity at Puma Biotechnology

In related news, insider Douglas M. Hunt sold 5,014 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $29,482.32. Following the completion of the sale, the insider directly owned 155,907 shares of the company’s stock, valued at approximately $916,733.16. This represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Auerbach sold 18,012 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $105,910.56. Following the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. Insiders sold 43,937 shares of company stock valued at $257,513 over the last three months. Insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors have recently added to or reduced their stakes in PBYI. Russell Investments Group Ltd. boosted its holdings in Puma Biotechnology by 4,823,365.0% during the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock valued at $5,123,000 after purchasing an additional 964,673 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Puma Biotechnology by 238.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock valued at $4,724,000 after purchasing an additional 559,345 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Puma Biotechnology by 410.1% during the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock worth $3,966,000 after acquiring an additional 535,933 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Puma Biotechnology by 78.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock worth $4,602,000 after purchasing an additional 339,924 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Puma Biotechnology by 35.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock valued at $6,666,000 after acquiring an additional 292,108 shares during the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

About Puma Biotechnology

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.