Puma Biotechnology (NASDAQ:PBYI) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

Puma Biotechnology, Inc. (NASDAQ:PBYIGet Free Report)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.66 and traded as high as $6.15. Puma Biotechnology shares last traded at $6.01, with a volume of 239,336 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PBYI. Weiss Ratings lowered shares of Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Check Out Our Latest Stock Analysis on PBYI

Puma Biotechnology Stock Down 1.0%

The stock’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $4.67. The firm has a market capitalization of $299.82 million, a price-to-earnings ratio of 8.04 and a beta of 1.18.

Puma Biotechnology (NASDAQ:PBYIGet Free Report) last announced its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. The business had revenue of $54.48 million during the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%. On average, equities analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 20,000 shares of Puma Biotechnology stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the transaction, the director owned 54,000 shares in the company, valued at $262,440. This trade represents a 27.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds have recently made changes to their positions in PBYI. BNP Paribas Financial Markets raised its holdings in Puma Biotechnology by 39.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,290 shares in the last quarter. CWM LLC lifted its position in Puma Biotechnology by 214.1% in the second quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 6,450 shares during the period. Cerity Partners LLC acquired a new stake in Puma Biotechnology during the second quarter worth $36,000. Caprock Group LLC acquired a new stake in Puma Biotechnology during the third quarter worth $59,000. Finally, Perkins Capital Management Inc. bought a new stake in Puma Biotechnology in the 3rd quarter valued at $65,000. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

(Get Free Report)

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.

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