Puma Biotechnology (NASDAQ:PBYI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.36 and traded as high as $7.30. Puma Biotechnology shares last traded at $7.27, with a volume of 223,925 shares changing hands.

Wall Street Analysts Forecast Growth

PBYI has been the topic of several research analyst reports. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Puma Biotechnology Trading Up 2.7%

The company has a market capitalization of $370.04 million, a price-to-earnings ratio of 15.15 and a beta of 1.24. The firm has a 50-day moving average price of $7.00 and a 200-day moving average price of $6.36.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. The business had revenue of $44.81 million during the quarter, compared to analyst estimates of $42.00 million. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%. Equities research analysts predict that Puma Biotechnology, Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Several large investors have recently modified their holdings of PBYI. Russell Investments Group Ltd. boosted its stake in shares of Puma Biotechnology by 4,823,365.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock worth $5,123,000 after acquiring an additional 964,673 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Puma Biotechnology by 238.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock worth $4,724,000 after acquiring an additional 559,345 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Puma Biotechnology by 410.1% during the 4th quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock worth $3,966,000 after acquiring an additional 535,933 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Puma Biotechnology by 78.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock worth $4,602,000 after acquiring an additional 339,924 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Puma Biotechnology by 35.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock worth $6,666,000 after acquiring an additional 292,108 shares in the last quarter. 61.29% of the stock is owned by institutional investors.

About Puma Biotechnology

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.