Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a buy rating to a strong-buy rating in a report published on Monday.

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday.

Puma Biotechnology Price Performance

PBYI opened at $3.30 on Monday. The company has a fifty day moving average price of $2.69 and a two-hundred day moving average price of $3.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. Puma Biotechnology has a 52 week low of $2.22 and a 52 week high of $7.73. The firm has a market capitalization of $161.87 million, a PE ratio of 6.88 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping 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 analyst estimates of $71.32 million. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, analysts anticipate that Puma Biotechnology will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Puma Biotechnology by 3.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 368,455 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 13,941 shares in the last quarter. Prospera Financial Services Inc lifted its position in Puma Biotechnology by 12.9% in the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company’s stock valued at $431,000 after acquiring an additional 19,315 shares in the last quarter. Royce & Associates LP lifted its position in Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 8,427 shares in the last quarter. Victory Capital Management Inc. lifted its position in Puma Biotechnology by 111.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company’s stock valued at $89,000 after acquiring an additional 18,532 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Puma Biotechnology in the 3rd quarter valued at $627,000. 61.29% of the stock is owned by institutional investors.

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.