Puma Biotechnology (NASDAQ:PBYI) Sets New 1-Year High – Should You Buy?

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $10.08 and last traded at $10.0250, with a volume of 98007 shares changing hands. The stock had previously closed at $9.78.

Analyst Ratings Changes

PBYI has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Puma Biotechnology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. TD Cowen upped their price objective on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Finally, Wall Street Zen raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Puma Biotechnology Price Performance

The business’s 50-day moving average price is $8.96 and its 200-day moving average price is $7.87. The firm has a market capitalization of $515.58 million, a PE ratio of 19.24 and a beta of 1.24.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.04 by $0.15. The firm had revenue of $56.50 million during the quarter, compared to the consensus estimate of $53.00 million. Puma Biotechnology had a net margin of 11.50% and a return on equity of 20.76%. Equities analysts forecast that Puma Biotechnology, Inc. will post 0.37 earnings per share for the current year.

Insider Buying and Selling at Puma Biotechnology

In other news, Director Alessandra Cesano sold 62,150 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $9.12, for a total transaction of $566,808.00. Following the completion of the sale, the director owned 56,700 shares in the company, valued at approximately $517,104. This represents a 52.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan H. Auerbach sold 44,058 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $8.26, for a total value of $363,919.08. Following the transaction, the chief executive officer directly owned 7,261,671 shares in the company, valued at approximately $59,981,402.46. This represents a 0.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 119,668 shares of company stock valued at $1,046,107. Company insiders own 22.20% of the company’s stock.

Institutional Trading of Puma Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Puma Biotechnology during the 2nd quarter worth approximately $30,856,000. Dimensional Fund Advisors LP increased its holdings in shares of Puma Biotechnology by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,436,106 shares of the biopharmaceutical company’s stock valued at $9,175,000 after purchasing an additional 96,503 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Puma Biotechnology by 11.6% in the first quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company’s stock valued at $4,948,000 after purchasing an additional 80,307 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Puma Biotechnology during the second quarter worth approximately $5,214,000. Finally, Sei Investments Co. raised its stake in shares of Puma Biotechnology by 18.2% during the first quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock worth $3,247,000 after purchasing an additional 78,257 shares during the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.

About Puma Biotechnology

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 tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.

In the United States, NERLYNX is approved for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following postoperative trastuzumab-based therapy.