Puma Biotechnology (NASDAQ:PBYI) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a buy rating to a strong-buy rating in a research report released on Friday.

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

Puma Biotechnology Price Performance

Puma Biotechnology stock traded up $0.14 during trading hours on Friday, hitting $3.18. The stock had a trading volume of 545,225 shares, compared to its average volume of 442,155. Puma Biotechnology has a 1-year low of $2.23 and a 1-year high of $5.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The stock's fifty day moving average is $3.12 and its two-hundred day moving average is $3.03. The stock has a market capitalization of $157.76 million, a price-to-earnings ratio of 6.63 and a beta of 1.34.

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

Hedge Funds Weigh In On Puma Biotechnology

Large investors have recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in shares of Puma Biotechnology by 23.6% during the 4th quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company's stock worth $81,000 after buying an additional 5,080 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Puma Biotechnology by 42.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,083 shares of the biopharmaceutical company's stock valued at $59,000 after purchasing an additional 5,726 shares during the period. Prudential Financial Inc. grew its position in Puma Biotechnology by 5.8% in the fourth quarter. Prudential Financial Inc. now owns 106,285 shares of the biopharmaceutical company's stock valued at $324,000 after acquiring an additional 5,800 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Puma Biotechnology by 36.5% in the 4th quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company's stock valued at $70,000 after buying an additional 6,126 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Puma Biotechnology by 167.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 6,351 shares during the period. Institutional investors and hedge funds 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.