Puma Biotechnology (NASDAQ:PBYI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.54 and traded as high as $7.33. Puma Biotechnology shares last traded at $7.23, with a volume of 174,837 shares.

Analysts Set New Price Targets

Several equities analysts have commented on PBYI shares. Weiss Ratings lowered shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of 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 currently has a consensus rating of “Hold”.

Puma Biotechnology Stock Performance

The stock has a market capitalization of $368.01 million, a P/E ratio of 15.06 and a beta of 1.21. The firm’s fifty day simple moving average is $7.22 and its 200 day simple moving average is $6.54.

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

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management boosted its stake in shares of Puma Biotechnology by 47.4% in the 4th quarter. Ritholtz Wealth Management now owns 694,001 shares of the biopharmaceutical company’s stock valued at $4,129,000 after purchasing an additional 223,234 shares in the last quarter. D Orazio & Associates Inc. boosted its stake in shares of Puma Biotechnology by 56.0% in the 4th quarter. D Orazio & Associates Inc. now owns 49,807 shares of the biopharmaceutical company’s stock valued at $296,000 after purchasing an additional 17,874 shares in the last quarter. CWM LLC boosted its stake in shares of Puma Biotechnology by 43.6% in the 4th quarter. CWM LLC now owns 12,813 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 3,893 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at approximately $115,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Puma Biotechnology in the 4th quarter valued at approximately $50,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.