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

Key Points

• Puma Biotechnology's stock crossed above its 200-day moving average of $6.02, trading as high as $7.50 and last at $7.37 on volume of 222,822 shares.
• Analysts are mixed: MarketBeat shows a consensus rating of "Hold", Weiss Ratings reissued a Hold (C+), while Wall Street Zen upgraded the stock to a Strong‑Buy.
• The company reported an earnings beat (EPS $0.26 vs. $0.24) and $75.5M in revenue, has a market cap of about $375M and a P/E of 12.08, and roughly 61% of shares are owned by institutions with several funds recently raising stakes.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.02 and traded as high as $7.50. Puma Biotechnology shares last traded at $7.37, with a volume of 222,822 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Puma Biotechnology in a report on Thursday, January 22nd. Wall Street Zen raised Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Puma Biotechnology presently has a consensus rating of "Hold".

Puma Biotechnology Price Performance

The firm has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $6.02. The firm has a market capitalization of $375.06 million, a P/E ratio of 12.08 and a beta of 1.19.

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

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in PBYI. Invesco Ltd. raised its stake in shares of Puma Biotechnology by 88.9% during the 1st quarter. Invesco Ltd. now owns 37,631 shares of the biopharmaceutical company's stock valued at $111,000 after purchasing an additional 17,707 shares during the period. Royal Bank of Canada raised its stake in shares of Puma Biotechnology by 3.8% during the 1st quarter. Royal Bank of Canada now owns 85,999 shares of the biopharmaceutical company's stock valued at $254,000 after purchasing an additional 3,117 shares during the period. AQR Capital Management LLC raised its stake in shares of Puma Biotechnology by 366.5% during the 1st quarter. AQR Capital Management LLC now owns 50,458 shares of the biopharmaceutical company's stock valued at $149,000 after purchasing an additional 39,641 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Puma Biotechnology during the 1st quarter valued at $66,000. Finally, Geode Capital Management LLC raised its stake in shares of Puma Biotechnology by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 971,674 shares of the biopharmaceutical company's stock valued at $3,333,000 after purchasing an additional 16,218 shares during the period. 61.29% of the stock is currently owned by institutional investors.

Puma Biotechnology Company Profile

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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