Puma Biotechnology (NASDAQ:PBYI) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Puma's stock crossed above its 200‑day moving average, trading as high as $7.73 and last at $7.54 versus the 200‑day MA of $6.12 (50‑day MA $6.77), suggesting a technical breakout.
• Analyst sentiment is mixed: Wall Street Zen upgraded to a "strong‑buy" while Weiss Ratings reiterated a "hold (c+)", and the MarketBeat average rating remains "Hold".
• The company posted an earnings and revenue beat (EPS $0.26 vs. $0.24 est.; revenue $75.5M vs. $68.6M) and has sizable institutional ownership (61.29%) with multiple funds increasing stakes.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.12 and traded as high as $7.73. Puma Biotechnology shares last traded at $7.54, with a volume of 227,778 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on PBYI shares. Wall Street Zen upgraded Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Puma Biotechnology in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Puma Biotechnology Price Performance

The firm's 50-day moving average price is $6.77 and its 200-day moving average price is $6.12. The stock has a market cap of $383.73 million, a P/E ratio of 12.36 and a beta of 1.19.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Puma Biotechnology had a net margin of 13.62% and a return on equity of 27.80%. The firm had revenue of $75.50 million during the quarter, compared to analyst estimates of $68.60 million. Sell-side analysts expect that Puma Biotechnology, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors have recently added to or reduced their stakes in PBYI. Kathmere Capital Management LLC increased its position in Puma Biotechnology by 9.8% in the first quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company's stock worth $190,000 after purchasing an additional 2,648 shares during the last quarter. DGS Capital Management LLC purchased a new position in shares of Puma Biotechnology in the 1st quarter worth $67,000. Ritholtz Wealth Management grew its stake in shares of Puma Biotechnology by 11.6% in the 1st quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company's stock worth $4,948,000 after buying an additional 80,307 shares in the last quarter. Baron Wealth Management LLC increased its holdings in shares of Puma Biotechnology by 8.2% in the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company's stock worth $245,000 after buying an additional 2,886 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Puma Biotechnology by 69.7% in the 4th quarter. Invesco Ltd. now owns 108,301 shares of the biopharmaceutical company's stock worth $644,000 after buying an additional 44,484 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company's stock.

About Puma Biotechnology

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.

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