Puma Biotechnology (NASDAQ:PBYI – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a report on Friday.
Read Our Latest Research Report on PBYI
Puma Biotechnology Price Performance
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.07). Puma Biotechnology had a net margin of 9.16% and a return on equity of 58.21%. The company had revenue of $72.20 million for the quarter, compared to the consensus estimate of $73.22 million. Research analysts forecast that Puma Biotechnology will post 0.29 earnings per share for the current year.
Institutional Trading of Puma Biotechnology
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology during the fourth quarter worth $66,000. Jump Financial LLC boosted its holdings in Puma Biotechnology by 26.6% during the third quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 5,190 shares during the last quarter. Crestline Management LP increased its position in shares of Puma Biotechnology by 6.5% during the 4th quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 2,135 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Puma Biotechnology by 23.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after acquiring an additional 15,897 shares in the last quarter. Finally, Citigroup Inc. bought a new position in shares of Puma Biotechnology in the 3rd quarter valued at about $262,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.
About Puma Biotechnology
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.
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