Puma Biotechnology (NASDAQ:PBYI) Upgraded at StockNews.com

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

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

Puma Biotechnology Stock Performance

PBYI traded up $0.05 during trading on Friday, hitting $2.95. 65,798 shares of the company traded hands, compared to its average volume of 440,675. The firm has a market cap of $146.36 million, a P/E ratio of 6.12 and a beta of 1.29. The stock's fifty day moving average is $3.07 and its 200 day moving average is $3.04. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. Puma Biotechnology has a one year low of $2.23 and a one year high of $5.04.

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

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of PBYI. Acorn Capital Advisors LLC purchased a new stake in shares of Puma Biotechnology in the fourth quarter worth about $7,475,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Puma Biotechnology by 70.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company's stock worth $2,462,000 after buying an additional 344,321 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Puma Biotechnology by 36.5% in the fourth quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company's stock worth $2,469,000 after buying an additional 216,329 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Puma Biotechnology by 21.2% in the first quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company's stock worth $3,403,000 after buying an additional 201,284 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Puma Biotechnology by 24.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company's stock worth $2,635,000 after buying an additional 170,968 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.

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.