Puma Biotechnology (NASDAQ:PBYI) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday.

Separately, HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Puma Biotechnology in a research report on Friday, February 28th.

Puma Biotechnology Stock Performance

Shares of PBYI stock traded down $0.09 on Friday, hitting $2.98. The company's stock had a trading volume of 294,291 shares, compared to its average volume of 440,721. Puma Biotechnology has a fifty-two week low of $2.23 and a fifty-two week high of $5.20. The company has a market capitalization of $147.90 million, a PE ratio of 6.21 and a beta of 1.29. The stock's 50 day moving average is $3.13 and its 200-day moving average is $3.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million for the quarter, compared to analysts' expectations of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. Equities research analysts expect that Puma Biotechnology will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Puma Biotechnology by 169.5% during the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 30,499 shares in the last quarter. SG Americas Securities LLC raised its holdings in Puma Biotechnology by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company's stock valued at $75,000 after buying an additional 11,252 shares during the last quarter. Barclays PLC boosted its position in Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company's stock worth $199,000 after buying an additional 46,370 shares during the period. Jane Street Group LLC grew its holdings in Puma Biotechnology by 103.9% during the 3rd quarter. Jane Street Group LLC now owns 32,129 shares of the biopharmaceutical company's stock worth $82,000 after acquiring an additional 16,374 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Puma Biotechnology by 19.5% in the 4th quarter. Bank of New York Mellon Corp now owns 331,853 shares of the biopharmaceutical company's stock valued at $1,012,000 after acquiring an additional 54,150 shares during the period. Institutional investors and hedge funds own 61.29% of the company's stock.

About Puma Biotechnology

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.