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

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Separately, HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Puma Biotechnology in a report on Friday.

Puma Biotechnology Trading Down 2.0 %

NASDAQ PBYI traded down $0.10 during trading hours on Friday, hitting $4.86. 390,326 shares of the company's stock were exchanged, compared to its average volume of 534,890. The business's 50 day moving average is $5.35 and its 200-day moving average is $4.66. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.50 and a current ratio of 1.57. Puma Biotechnology has a 12-month low of $2.13 and a 12-month high of $7.73. The firm has a market capitalization of $234.29 million, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.31.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.07). The company had revenue of $72.20 million for the quarter, compared to analyst estimates of $73.22 million. Puma Biotechnology had a return on equity of 58.21% and a net margin of 9.16%. As a group, analysts anticipate that Puma Biotechnology will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jump Financial LLC boosted its holdings in shares of Puma Biotechnology by 26.6% in the 3rd quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 5,190 shares during the period. GSA Capital Partners LLP lifted its stake in Puma Biotechnology by 143.8% in the third quarter. GSA Capital Partners LLP now owns 279,629 shares of the biopharmaceutical company's stock valued at $735,000 after buying an additional 164,931 shares during the last quarter. Citigroup Inc. bought a new stake in Puma Biotechnology in the third quarter valued at $262,000. Assenagon Asset Management S.A. boosted its holdings in shares of Puma Biotechnology by 23.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company's stock valued at $368,000 after acquiring an additional 15,897 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology during the fourth quarter worth about $66,000. Institutional investors and hedge funds own 61.29% of the company's stock.

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.

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