StockNews.com upgraded shares of Puma Biotechnology (NASDAQ:PBYI – Free Report) from a hold rating to a buy rating in a report issued on Friday morning.
Separately, HC Wainwright restated a buy rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday.
Read Our Latest Report on PBYI
Puma Biotechnology Price Performance
Puma Biotechnology (NASDAQ:PBYI – Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.07). Puma Biotechnology had a net margin of 6.79% and a return on equity of 37.69%. 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 fiscal year.
Hedge Funds Weigh In On Puma Biotechnology
A number of institutional investors have recently bought and sold shares of the stock. Jump Financial LLC raised its position in shares of Puma Biotechnology by 26.6% in the 3rd quarter. Jump Financial LLC now owns 24,690 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 5,190 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology in the 4th quarter worth about $66,000. Crestline Management LP lifted its position in Puma Biotechnology by 6.5% during the 4th quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 2,135 shares during the period. Citigroup Inc. bought a new stake in Puma Biotechnology during the third quarter worth about $262,000. Finally, Assenagon Asset Management S.A. grew its holdings in Puma Biotechnology by 23.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock worth $368,000 after purchasing an additional 15,897 shares during the period. 61.29% of the stock is owned by institutional investors.
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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