As Benzinga reports, investment analysts at HC Wainwright reaffirmed their “Buy” rating on shares of Puma Biotechnology (NASDAQ:PBYI – Get Free Report ) in a research report issued to clients and investors on Friday. The target price on the biopharmaceutical company’s shares is currently $7.00. HC Wainwright’s target price suggests a potential upside of 82.77% from the company’s previous closing price.
Meanwhile, StockNews.com raised Puma Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th.
Read the latest stock analysis for PBYI
Puma Biotechnology shares fell 2.8%
Puma Biotechnology, Inc. shares opened trading at $3.83 on Friday. Puma Biotechnology, Inc.’s 12-month low and 200-day moving average are $2.13 and $7.73, respectively. The stock’s 50-day moving average is $3.51 and $4.69, respectively. The company’s current ratio is 1.46, quick ratio is 1.38 and debt-to-equity ratio is 1.07. The stock has a market capitalization of $184.76 million, a price-to-earnings ratio of 11.61 and a beta of 1.09.
Puma Biotechnology (NASDAQ:PBYI – Get free report ) released its quarterly earnings report on Thursday, May 2nd. The biopharmaceutical company reported quarterly EPS of ($0.10), beating the consensus estimate of ($0.22) by $0.12. The business had revenue of $43.80 million for the quarter, compared to analyst expectations of $41.53 million. Puma Biotechnology had an ROE of 35.49% and a net margin of 6.79%. Research analysts expect Puma Biotechnology to post earnings of 0.22 per share for the current year.
Insider Activities
In related news, Director, Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.33, for a total value of $89,910.00. Following the completion of the transaction, the director now directly owns 350 shares of the company’s stock, valued at approximately $1,165.50. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. In related news, CEO, Alan H. Auerbach sold 18,885 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $3.27, for a total value of $61,753.95. Following the completion of the transaction, the CEO now directly owns 7,085,435 shares of the company’s stock, valued at approximately $23,169,372.45. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. Additionally, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction that took place on Thursday, June 13th. The shares were sold at an average price of $3.33, for a total value of $89,910.00. Following the completion of the transaction, the director now directly owns 350 shares of the company’s stock, valued at $1,165.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,905 shares of the company’s stock, valued at $294,859. 23.70% of the stock is now owned by company insiders.
Hedge funds enter Puma Biotechnology
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Puma Biotechnology in the first quarter worth about $57,000. Ritholtz Wealth Management purchased a new position in Puma Biotechnology in the fourth quarter worth $66,000. Crestline Management LP increased its position in Puma Biotechnology by 6.5% in the fourth quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 2,135 shares in the last quarter. Jump Financial LLC increased its position in Puma Biotechnology by 131.7% in the fourth quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 32,510 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Puma Biotechnology, Inc. by 5,129.0% during the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 48,520 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.
About Puma Biotechnology
(Get your free report)
Puma Biotechnology, Inc, a biopharmaceutical company, is focused on developing and commercializing products to enhance cancer care in the U.S. and internationally. The company offers NERLYNX, an oral version of neratinib, used to treat adult patients with HER2-overexpressing/amplified breast cancer, and in combination with capecitabine, advanced or metastatic HER2-positive breast cancer.
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