Puma Biotechnology (NASDAQ:PBYI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.02 and traded as high as $7.50. Puma Biotechnology shares last traded at $7.37, with a volume of 222,822 shares traded.

Wall Street Analysts Forecast Growth

PBYI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Puma Biotechnology in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Puma Biotechnology Stock Performance

The business’s 50-day moving average price is $6.71 and its 200-day moving average price is $6.05. The stock has a market cap of $378.11 million, a P/E ratio of 12.18 and a beta of 1.19.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Puma Biotechnology had a net margin of 13.62% and a return on equity of 27.80%. The firm had revenue of $75.50 million during the quarter, compared to the consensus estimate of $68.60 million. As a group, equities research analysts expect that Puma Biotechnology, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Puma Biotechnology by 39.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,290 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology in the 4th quarter worth $49,000. State of Alaska Department of Revenue bought a new position in Puma Biotechnology in the 4th quarter worth $50,000. ProShare Advisors LLC bought a new position in Puma Biotechnology in the 4th quarter worth $60,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Puma Biotechnology in the 4th quarter worth $59,000. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.