HC Wainwright Reiterates “Buy” Rating for Puma Biotechnology (NASDAQ:PBYI)

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 95.53% from the company’s previous close.

Separately, StockNews.com cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock opened at $3.58 on Friday. The company has a market capitalization of $175.74 million, a PE ratio of 7.46 and a beta of 1.09. Puma Biotechnology has a 12 month low of $2.22 and a 12 month high of $7.15. 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 stock’s fifty day simple moving average is $3.02 and its 200 day simple moving average is $2.86.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.10 by $0.29. The business had revenue of $59.10 million for the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. On average, research analysts predict that Puma Biotechnology will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the transaction, the insider now owns 108,951 shares in the company, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Auerbach sold 33,841 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $106,599.15. Following the completion of the transaction, the chief executive officer now owns 7,029,674 shares of the company’s stock, valued at $22,143,473.10. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Puma Biotechnology in the 3rd quarter valued at about $627,000. JPMorgan Chase & Co. grew its holdings in shares of Puma Biotechnology by 169.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 30,499 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Puma Biotechnology by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 11,252 shares in the last quarter. FMR LLC grew its holdings in shares of Puma Biotechnology by 27.1% in the 3rd quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 25,183 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Puma Biotechnology by 146.5% in the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 46,370 shares in the last quarter. Institutional investors own 61.29% of the company’s stock.

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.