Puma Biotechnology (NASDAQ:PBYI) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Puma Biotechnology (NASDAQ:PBYI) from a hold rating to a buy rating in a research report report published on Sunday.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Puma Biotechnology in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Puma Biotechnology Stock Down 2.9%

Shares of Puma Biotechnology stock opened at $6.05 on Friday. The company has a market cap of $307.82 million, a PE ratio of 9.92 and a beta of 1.27. The business has a 50 day moving average price of $6.53 and a 200-day moving average price of $5.63. Puma Biotechnology has a 52 week low of $2.58 and a 52 week high of $7.68.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Puma Biotechnology had a return on equity of 27.80% and a net margin of 13.62%.The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $68.60 million. As a group, research analysts anticipate that Puma Biotechnology will post 0.31 EPS for the current year.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, insider Douglas M. Hunt sold 5,014 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total transaction of $29,482.32. Following the completion of the transaction, the insider owned 155,907 shares in the company, valued at $916,733.16. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Auerbach sold 18,012 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total transaction of $105,910.56. Following the transaction, the chief executive officer directly owned 7,145,951 shares in the company, valued at approximately $42,018,191.88. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 43,937 shares of company stock worth $257,513. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Puma Biotechnology

A number of large investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in Puma Biotechnology by 88.9% during the 1st quarter. Invesco Ltd. now owns 37,631 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 17,707 shares during the period. Royal Bank of Canada raised its position 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 worth $254,000 after purchasing an additional 3,117 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Puma Biotechnology by 366.5% in the first quarter. AQR Capital Management LLC now owns 50,458 shares of the biopharmaceutical company’s stock valued at $149,000 after acquiring an additional 39,641 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Puma Biotechnology in the 1st quarter valued at $66,000. Finally, Savant Capital LLC purchased a new position in shares of Puma Biotechnology in the second quarter worth about $44,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

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.