Puma Biotechnology (NASDAQ:PBYI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a buy rating in a research report released on Sunday.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Puma Biotechnology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $6.06 on Friday. Puma Biotechnology has a 52 week low of $2.58 and a 52 week high of $7.68. The company’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $5.64. The company has a market capitalization of $308.33 million, a P/E ratio of 9.93 and a beta of 1.26.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Puma Biotechnology had a net margin of 13.62% and a return on equity of 27.80%. The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $68.60 million. Analysts forecast that Puma Biotechnology will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas M. Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the transaction, the insider owned 155,907 shares of the company’s stock, valued at approximately $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Auerbach sold 18,012 shares of Puma Biotechnology stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total value of $105,910.56. Following the completion of the sale, the chief executive officer directly owned 7,145,951 shares in the company, valued at approximately $42,018,191.88. This represents a 0.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,937 shares of company stock worth $257,513 over the last quarter. 23.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Puma Biotechnology by 4,823,365.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock worth $5,123,000 after purchasing an additional 964,673 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Puma Biotechnology by 238.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock worth $4,724,000 after acquiring an additional 559,345 shares in the last quarter. AQR Capital Management LLC lifted its stake in Puma Biotechnology by 410.1% in the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock valued at $3,966,000 after acquiring an additional 535,933 shares during the last quarter. LSV Asset Management lifted its stake in Puma Biotechnology by 903.3% in the second quarter. LSV Asset Management now owns 535,740 shares of the biopharmaceutical company’s stock valued at $1,838,000 after acquiring an additional 482,340 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Puma Biotechnology by 78.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock valued at $4,602,000 after acquiring an additional 339,924 shares during the period. 61.29% of the stock is currently owned by institutional investors.

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.