Puma Biotechnology (NASDAQ:PBYI) Stock Crosses Above 200-Day Moving Average of $4.46

Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.46 and traded as high as $5.30. Puma Biotechnology shares last traded at $5.17, with a volume of 248,185 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on PBYI. StockNews.com cut shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. HC Wainwright dropped their target price on shares of Puma Biotechnology from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Puma Biotechnology Stock Performance

The stock’s 50 day simple moving average is $5.71 and its two-hundred day simple moving average is $4.46. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.23. The company has a market cap of $249.25 million, a PE ratio of 11.24, a P/E/G ratio of 3.04 and a beta of 1.28.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.07). Puma Biotechnology had a return on equity of 58.21% and a net margin of 9.16%. The firm had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $73.22 million. As a group, research analysts anticipate that Puma Biotechnology, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBYI. Jane Street Group LLC acquired a new position in Puma Biotechnology during the 2nd quarter valued at about $32,000. Balyasny Asset Management LLC acquired a new position in Puma Biotechnology during the third quarter worth $33,000. UBS Group AG increased its position in Puma Biotechnology by 217.6% during the first quarter. UBS Group AG now owns 10,925 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 7,485 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Puma Biotechnology in the first quarter valued at about $35,000. Finally, BNP Paribas Arbitrage SNC grew its position in shares of Puma Biotechnology by 45.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 19,918 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 6,212 shares during the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

Puma Biotechnology Company Profile

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.