HC Wainwright Reaffirms Buy Rating for Puma Biotechnology (NASDAQ:PBYI)

HC Wainwright restated their buy rating on shares of Puma Biotechnology (NASDAQ:PBYI) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $7.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st.

Puma Biotechnology Stock Up 14.6 %

Shares of Puma Biotechnology stock opened at $3.30 on Friday. The stock has a 50-day simple moving average of $2.69 and a 200-day simple moving average of $3.29. Puma Biotechnology has a 52-week low of $2.22 and a 52-week high of $7.73. The firm has a market cap of $161.87 million, a price-to-earnings ratio of 6.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 45.71%. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same period in the previous year, the company earned $0.12 earnings per share. On average, equities research analysts expect that Puma Biotechnology will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Puma Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rice Hall James & Associates LLC raised its holdings in Puma Biotechnology by 3.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock worth $472,000 after acquiring an additional 4,686 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 8,000 shares during the last quarter. Royce & Associates LP increased its stake in shares of Puma Biotechnology by 71.8% in the third quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 8,427 shares during the period. SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the 1st quarter worth about $57,000. Finally, Squarepoint Ops LLC boosted its stake in Puma Biotechnology by 17.7% during the 2nd quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 10,757 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.