Puma Biotech (PBYI) Is Up 23.01% in One Week: What You Should Know

21.02.24 18:00 Uhr

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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.Below, we take a look at Puma Biotech (PBYI), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Puma Biotech currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.You can see the current list of Zacks #1 Rank Stocks here >>>Set to Beat the Market?In order to see if PBYI is a promising momentum pick, let's examine some Momentum Style elements to see if this biopharmaceutical company holds up.Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.For PBYI, shares are up 23.01% over the past week while the Zacks Medical - Biomedical and Genetics industry is up 0.51% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 35.53% compares favorably with the industry's 1.29% performance as well.While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Puma Biotech have risen 65.61%, and are up 62.44% in the last year. On the other hand, the S&P 500 has only moved 9.79% and 23.69%, respectively.Investors should also take note of PBYI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, PBYI is averaging 519,752 shares for the last 20 days.Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with PBYI.Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost PBYI's consensus estimate, increasing from $0.72 to $0.73 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.Bottom LineTaking into account all of these elements, it should come as no surprise that PBYI is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Puma Biotech on your short list.5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Puma Biotechnology, Inc. (PBYI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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12.04.2024PUMA SE HoldJefferies & Company Inc.
02.04.2024PUMA SE Equal WeightBarclays Capital
28.03.2024PUMA SE Sector PerformRBC Capital Markets
22.03.2024PUMA SE BuyWarburg Research
22.03.2024PUMA SE HoldJefferies & Company Inc.
DatumRatingAnalyst
22.03.2024PUMA SE BuyWarburg Research
06.03.2024PUMA SE KaufenDZ BANK
05.03.2024PUMA SE BuyHauck & Aufhäuser Privatbankiers KGaA
01.03.2024PUMA SE BuyDeutsche Bank AG
01.03.2024PUMA SE BuyWarburg Research
DatumRatingAnalyst
12.04.2024PUMA SE HoldJefferies & Company Inc.
02.04.2024PUMA SE Equal WeightBarclays Capital
28.03.2024PUMA SE Sector PerformRBC Capital Markets
22.03.2024PUMA SE HoldJefferies & Company Inc.
22.03.2024PUMA SE NeutralJP Morgan Chase & Co.
DatumRatingAnalyst
20.09.2021PUMA SE VerkaufenDZ BANK
06.07.2021PUMA SE VerkaufenDZ BANK
28.04.2021PUMA SE VerkaufenDZ BANK
23.04.2021PUMA SE VerkaufenDZ BANK
09.04.2021PUMA SE VerkaufenDZ BANK

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