Puma Biotechnology (NASDAQ:PBYI) Stock Price Passes Above 200-Day Moving Average of $3.25

Puma Biotechnology, Inc. (NASDAQ:PBYI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.25 and traded as high as $3.43. Puma Biotechnology shares last traded at $3.27, with a volume of 183,889 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBYI. TheStreet raised Puma Biotechnology from a “d+” rating to a “c-” rating in a report on Monday, August 7th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Puma Biotechnology in a research note on Friday, August 4th. Finally, StockNews.com initiated coverage on Puma Biotechnology in a research note on Thursday, August 17th. They set a “buy” rating for the company.

Puma Biotechnology Stock Up 1.2 %

The firm has a 50 day moving average of $3.54 and a two-hundred day moving average of $3.24. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.84 and a current ratio of 1.97.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Puma Biotechnology had a negative return on equity of 10.00% and a negative net margin of 1.09%. The firm had revenue of $54.60 million during the quarter, compared to the consensus estimate of $51.37 million. On average, equities research analysts forecast that Puma Biotechnology, Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Puma Biotechnology news, CFO Maximo F. Nougues sold 14,680 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $3.31, for a total value of $48,590.80. Following the completion of the sale, the chief financial officer now owns 144,348 shares in the company, valued at approximately $477,791.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Puma Biotechnology news, CFO Maximo F. Nougues sold 14,680 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $3.31, for a total value of $48,590.80. Following the completion of the sale, the chief financial officer now owns 144,348 shares in the company, valued at approximately $477,791.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan H. Auerbach sold 60,698 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $3.31, for a total value of $200,910.38. Following the transaction, the chief executive officer now owns 6,978,343 shares of the company’s stock, valued at approximately $23,098,315.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,316 shares of company stock worth $365,616. 22.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Puma Biotechnology by 5.5% during the 1st quarter. BlackRock Inc. now owns 3,379,684 shares of the biopharmaceutical company’s stock worth $9,733,000 after buying an additional 175,447 shares during the period. Millennium Management LLC lifted its position in shares of Puma Biotechnology by 16.0% during the 2nd quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock worth $6,317,000 after buying an additional 304,969 shares during the period. Renaissance Technologies LLC lifted its position in shares of Puma Biotechnology by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,976,935 shares of the biopharmaceutical company’s stock worth $5,634,000 after buying an additional 205,700 shares during the period. Acadian Asset Management LLC lifted its position in shares of Puma Biotechnology by 3.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,874,859 shares of the biopharmaceutical company’s stock worth $5,792,000 after buying an additional 61,819 shares during the period. Finally, State Street Corp increased its holdings in Puma Biotechnology by 10.6% during the 1st quarter. State Street Corp now owns 639,629 shares of the biopharmaceutical company’s stock valued at $1,842,000 after purchasing an additional 61,539 shares in the last quarter. Institutional investors own 55.97% of the company’s stock.

Puma Biotechnology Company Profile

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; for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; and for HER2 mutation-positive solid tumors.