Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a research note released on Thursday morning.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research note on Friday, February 28th.

Puma Biotechnology Stock Down 3.0%

Shares of NASDAQ:PBYI opened at $3.25 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The firm has a market capitalization of $161.30 million, a PE ratio of 6.77 and a beta of 1.29. The firm’s 50-day moving average is $3.08 and its two-hundred day moving average is $3.06. Puma Biotechnology has a 1 year low of $2.23 and a 1 year high of $4.23.

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

Hedge Funds Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC acquired a new position in shares of Puma Biotechnology during the fourth quarter worth about $7,475,000. Acadian Asset Management LLC grew its position in shares of Puma Biotechnology by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company’s stock worth $5,940,000 after buying an additional 36,018 shares in the last quarter. American Century Companies Inc. grew its position in shares of Puma Biotechnology by 21.2% during the first quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company’s stock worth $3,403,000 after buying an additional 201,284 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Puma Biotechnology by 24.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company’s stock worth $2,635,000 after buying an additional 170,968 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Puma Biotechnology by 70.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company’s stock worth $2,462,000 after buying an additional 344,321 shares in 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.