Puma Biotechnology’s (PBYI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $7.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th.

Puma Biotechnology Stock Up 3.4 %

Shares of PBYI opened at $3.00 on Wednesday. The firm has a market capitalization of $147.27 million, a price-to-earnings ratio of 6.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The business’s fifty day moving average price is $2.77 and its two-hundred day moving average price is $3.18. Puma Biotechnology has a 52 week low of $2.22 and a 52 week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The firm had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. During the same period last year, the company earned $0.12 EPS. On average, analysts predict that Puma Biotechnology will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC boosted its position in shares of Puma Biotechnology by 3.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after purchasing an additional 4,686 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Puma Biotechnology by 72.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 8,000 shares during the last quarter. Royce & Associates LP boosted its position in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 8,427 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology in the 1st quarter worth $57,000. Finally, Squarepoint Ops LLC boosted its position in shares of Puma Biotechnology by 17.7% in the 2nd quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 10,757 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors.

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.