Puma Biotechnology, Inc. (NASDAQ:PBYI) Stock Catapults 26% Though Its Price And Business Still Lag The Market
Puma Biotechnology, Inc. (NASDAQ:PBYI) shares have continued their recent momentum with a 26% gain in the last month alone. The last 30 days bring the annual gain to a very sharp 90%.
Even after such a large jump in price, Puma Biotechnology’s price-to-earnings (or “P/E”) ratio of 5.7x might still make it look like a strong buy right now compared to the market in the United States, where around half of the companies have P/E ratios above 19x and even P/E’s above 34x are quite common. However, the P/E might be quite low for a reason and it requires further investigation to determine if it’s justified.
