Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a report released on Friday morning.

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, August 2nd.

Puma Biotechnology Stock Performance

Puma Biotechnology stock opened at $2.95 on Friday. The company has a market cap of $144.70 million, a price-to-earnings ratio of 15.74 and a beta of 1.09. Puma Biotechnology has a 12 month low of $2.22 and a 12 month high of $7.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. The stock’s 50-day moving average is $2.62 and its 200-day moving average is $3.37.

Insider Activity at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the sale, the director now owns 47,000 shares of the company’s stock, valued at approximately $164,030. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 23.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the third quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Puma Biotechnology by 72.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 8,000 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth $54,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Puma Biotechnology in the second quarter valued at $58,000. Finally, Rhumbline Advisers boosted its stake in Puma Biotechnology by 2,309.9% during the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 48,184 shares in the last quarter. Institutional investors 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.