Puma Biotechnology (NASDAQ:PBYI) Raised to “Strong-Buy” at Wall Street Zen

Puma Biotechnology (NASDAQ:PBYI) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on PBYI. Weiss Ratings reiterated a “hold (c)” rating on shares of Puma Biotechnology in a report on Friday, August 7th. TD Cowen boosted their price target on Puma Biotechnology from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology has a consensus rating of “Hold” and a consensus price target of $6.00.

Puma Biotechnology Stock Performance

PBYI stock opened at $8.83 on Friday. The business’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $7.26. The firm has a market cap of $455.80 million, a PE ratio of 16.98 and a beta of 1.22. Puma Biotechnology has a 1-year low of $4.30 and a 1-year high of $9.40.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.15. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%.The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $53.00 million. On average, analysts forecast that Puma Biotechnology will post 0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Alan H. Auerbach sold 44,058 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $8.26, for a total value of $363,919.08. Following the transaction, the chief executive officer owned 7,261,671 shares of the company’s stock, valued at approximately $59,981,402.46. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jay M. Moyes sold 22,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $7.22, for a total value of $158,840.00. Following the transaction, the director owned 58,322 shares in the company, valued at approximately $421,084.84. This trade represents a 27.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 132,028 shares of company stock valued at $1,006,711 in the last ninety days. 22.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PBYI. Ritholtz Wealth Management lifted its stake in Puma Biotechnology by 11.6% during the first quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company’s stock worth $4,948,000 after purchasing an additional 80,307 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Puma Biotechnology by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,436,106 shares of the biopharmaceutical company’s stock valued at $9,175,000 after purchasing an additional 96,503 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Puma Biotechnology by 18.2% during the 1st quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock valued at $3,247,000 after buying an additional 78,257 shares in the last quarter. Baron Wealth Management LLC raised its holdings in shares of Puma Biotechnology by 8.2% during the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 2,886 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in Puma Biotechnology by 58.4% in the 4th quarter. WINTON GROUP Ltd now owns 97,159 shares of the biopharmaceutical company’s stock worth $578,000 after buying an additional 35,835 shares during the last quarter. 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.