Puma Biotechnology, Inc. (NASDAQ:PBYI – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $8.05 and traded as high as $10.00. Puma Biotechnology shares last traded at $9.97, with a volume of 356,549 shares changing hands.
Analysts Set New Price Targets
A number of research analysts have recently commented on PBYI shares. TD Cowen upped their price target on Puma Biotechnology from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Puma Biotechnology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Puma Biotechnology currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.
Read Our Latest Stock Report on PBYI
Puma Biotechnology Trading Up 3.2%
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.15. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%. The business had revenue of $56.50 million during the quarter, compared to analyst estimates of $53.00 million. Sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.37 EPS for the current fiscal year.
Insider Activity
In other news, Director Troy Wilson sold 5,000 shares of Puma Biotechnology stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $9.10, for a total transaction of $45,500.00. Following the sale, the director directly owned 54,750 shares in the company, valued at approximately $498,225. The trade was a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alessandra Cesano sold 62,150 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $9.12, for a total transaction of $566,808.00. Following the completion of the transaction, the director directly owned 56,700 shares of the company’s stock, valued at $517,104. This trade represents a 52.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Puma Biotechnology
Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Spark Investment Management LLC bought a new position in shares of Puma Biotechnology during the second quarter valued at $138,000. Wellington Management Group LLP bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth about $1,023,000. Empowered Funds LLC acquired a new stake in shares of Puma Biotechnology during the 2nd quarter worth about $1,787,000. Philadelphia Investment Partners LLC acquired a new stake in shares of Puma Biotechnology during the 2nd quarter worth about $65,000. Finally, Bank of America Corp DE acquired a new stake in shares of Puma Biotechnology during the 2nd quarter worth about $257,000. Institutional investors own 61.29% of the company’s stock.
Puma Biotechnology Company Profile
Puma Biotechnology, Inc is a biopharmaceutical company focused on developing and commercializing medicines for the treatment of cancer. The company’s primary product is NERLYNX® (neratinib), an oral, irreversible tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.
NERLYNX is approved in the United States for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following adjuvant trastuzumab-based therapy.
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