Puma Biotechnology (NASDAQ:PBYI) Raised to Buy (B-) at Weiss Ratings

Key Points

• Analysts at Weiss Ratings upgraded Puma Biotechnology from a "hold (c+)" to a "buy (b-)" rating, indicating increased confidence in the company's stock.
• Puma Biotechnology currently has a consensus rating of "Buy" with a target price of $7.00, reflecting positive sentiment among equities research analysts.
• Institutional investors hold approximately 61.29% of Puma Biotechnology's stock, with significant stake increases from firms like CWM LLC, which boosted its stake by 214.1% recently.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was upgraded by analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Puma Biotechnology presently has a consensus rating of "Buy" and a consensus target price of $7.00.

Puma Biotechnology Stock Up 1.0%

Shares of NASDAQ:PBYI opened at $5.23 on Wednesday. Puma Biotechnology has a 52-week low of $2.32 and a 52-week high of $6.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 1.73. The business's 50 day simple moving average is $4.71 and its two-hundred day simple moving average is $3.75. The firm has a market cap of $263.44 million, a P/E ratio of 5.34 and a beta of 1.39.

Insider Buying and Selling at Puma Biotechnology

In other news, Director Alessandra Cesano sold 27,000 shares of Puma Biotechnology stock in a transaction on Friday, July 18th. The stock was sold at an average price of $3.37, for a total value of $90,990.00. Following the completion of the transaction, the director directly owned 41,850 shares in the company, valued at approximately $141,034.50. The trade was a 39.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.30% of the company's stock.

Institutional Investors Weigh In On Puma Biotechnology

Large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Puma Biotechnology by 214.1% during the second quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 6,450 shares during the period. Cerity Partners LLC bought a new stake in Puma Biotechnology during the second quarter worth about $36,000. Savant Capital LLC bought a new stake in Puma Biotechnology during the second quarter worth about $44,000. Causeway Capital Management LLC bought a new stake in Puma Biotechnology during the first quarter worth about $42,000. Finally, D Orazio & Associates Inc. bought a new stake in Puma Biotechnology during the second quarter worth about $52,000. Institutional investors 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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