December 9, 2022

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HC Wainwright Reiterates Buy Rating for Puma Biotechnology (NASDAQ:PBYI)

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Puma Biotechnology (NASDAQ:PBYI – Get Rating)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Friday. They currently have a $12.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 309.56% from the stock’s current price.

Separately, StockNews.com assumed coverage on Puma Biotechnology in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Puma Biotechnology has a consensus rating of “Hold” and a consensus price target of $9.25.

PBYI stock traded up $0.10 during midday trading on Friday, reaching $2.93. The company’s stock had a trading volume of 152,830 shares, compared to its average volume of 596,478. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.47 and a current ratio of 1.57. The stock has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $2.59. Puma Biotechnology has a 1 year low of $1.60 and a 1 year high of $8.78. The firm has a market capitalization of $131.76 million, a price-to-earnings ratio of -2.44 and a beta of 0.67.

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Puma Biotechnology (NASDAQ:PBYI – Get Rating) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Puma Biotechnology had a negative return on equity of 843.16% and a negative net margin of 24.42%. The business had revenue of $45.70 million for the quarter, compared to analyst estimates of $45.07 million. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue was down 53.5% compared to the same quarter last year. As a group, analysts forecast that Puma Biotechnology will post 0.04 EPS for the current fiscal year.

In other news, CEO Alan H. Auerbach sold 26,140 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $2.63, for a total value of $68,748.20. Following the completion of the transaction, the chief executive officer now directly owns 6,317,952 shares in the company, valued at $16,616,213.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Troy Edward Wilson sold 27,858 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $2.58, for a total value of $71,873.64. Following the completion of the transaction, the director now owns 27,350 shares of the company’s stock, valued at $70,563. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,401 shares of company stock valued at $173,932. Company insiders own 19.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Dupont Capital Management Corp purchased a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $216,000. Acadian Asset Management LLC increased its position in shares of Puma Biotechnology by 34.4% in the fourth quarter. Acadian Asset Management LLC now owns 1,746,281 shares of the biopharmaceutical company’s stock valued at $5,305,000 after buying an additional 446,734 shares in the last quarter. Diversified Trust Co increased its position in shares of Puma Biotechnology by 30.8% in the fourth quarter. Diversified Trust Co now owns 25,688 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 6,053 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $1,225,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $51,000. Institutional investors own 96.78% of the company’s stock.

About Puma Biotechnology (Get Rating)

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’s drug candidates include PB272 neratinib (oral) for the patients with early stage HER2-overexpressed/amplified breast cancer; PB272 (neratinib, oral) for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; PB272 (neratinib, oral) for HER2 mutation-positive solid tumors.

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