Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.45 and traded as high as $7.04. Puma Biotechnology shares last traded at $6.81, with a volume of 226,170 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PBYI shares. Weiss Ratings lowered Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Puma Biotechnology Stock Performance

The company has a fifty day simple moving average of $7.12 and a 200 day simple moving average of $6.45. The stock has a market capitalization of $346.63 million, a price-to-earnings ratio of 14.19 and a beta of 1.21.

Puma Biotechnology (NASDAQ:PBYI) last posted 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. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%.The firm had revenue of $44.81 million during the quarter, compared to analyst estimates of $42.00 million. As a group, equities analysts predict that Puma Biotechnology, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Puma Biotechnology by 244.5% in the 1st quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 3,066 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Puma Biotechnology by 9.6% in the 1st quarter. Empowered Funds LLC now owns 204,041 shares of the biopharmaceutical company’s stock worth $1,304,000 after buying an additional 17,856 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Puma Biotechnology by 18.2% in the 1st quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock worth $3,247,000 after buying an additional 78,257 shares during the last quarter. State of Wyoming lifted its stake in Puma Biotechnology by 42.6% in the first quarter. State of Wyoming now owns 75,808 shares of the biopharmaceutical company’s stock valued at $484,000 after purchasing an additional 22,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 last quarter. 61.29% of the stock is owned by institutional investors.

Puma Biotechnology Company Profile

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.