Puma Biotechnology (NASDAQ:PBYI) Upgraded 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 report released on Saturday.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Puma Biotechnology in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Puma Biotechnology currently has an average rating of “Hold”.

Puma Biotechnology Trading Up 2.1%

Shares of PBYI opened at $6.25 on Friday. The business’s fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $5.70. Puma Biotechnology has a 12 month low of $2.58 and a 12 month high of $7.68. The company has a market cap of $318 million, a price-to-earnings ratio of 10.25 and a beta of 1.27.

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

Insider Buying and Selling

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 18,012 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction 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. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas M. Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was 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 in the company, valued at approximately $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 43,937 shares of company stock valued at $257,513. 23.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Puma Biotechnology

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Puma Biotechnology by 39.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,290 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Puma Biotechnology during the fourth quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new stake in Puma Biotechnology during the fourth quarter valued at approximately $50,000. ProShare Advisors LLC bought a new position in Puma Biotechnology in the fourth quarter worth approximately $60,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Puma Biotechnology during the 4th quarter worth $59,000. 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.