Puma Biotechnology (NASDAQ:PBYI) Cut to Buy at StockNews.com

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

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a research note on Wednesday, November 20th.

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $3.00 on Friday. The business’s 50-day moving average price is $2.77 and its 200-day moving average price is $3.16. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $147.27 million, a price-to-earnings ratio of 6.25 and a beta of 1.09. Puma Biotechnology has a 12 month low of $2.22 and a 12 month high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The business had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities research analysts forecast that Puma Biotechnology will post 0.29 EPS for the current year.

Institutional Trading of Puma Biotechnology

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Puma Biotechnology during the 1st quarter worth about $57,000. O Shaughnessy Asset Management LLC lifted its stake in Puma Biotechnology by 127.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 43,229 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Puma Biotechnology by 5,129.0% during the 1st quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 48,520 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Puma Biotechnology by 99.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock worth $457,000 after buying an additional 70,060 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Puma Biotechnology by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 120,104 shares during the last quarter. Hedge funds and other 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.