Stifel Nicolaus Reaffirms Buy Rating for Puma Biotechnology Inc (PBYI)

Stifel Nicolaus reaffirmed their buy rating on shares of Puma Biotechnology Inc (NYSE:PBYI) in a research note released on Monday, May 22nd. They currently have a $88.00 price target on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on PBYI. Citigroup Inc. restated a buy rating and issued a $88.00 price objective on shares of Puma Biotechnology in a research report on Saturday, March 4th. Royal Bank of Canada set a $40.00 target price on Puma Biotechnology and gave the company a hold rating in a research note on Wednesday, May 10th. Credit Suisse Group reiterated an outperform rating and issued a $58.00 target price on shares of Puma Biotechnology in a research note on Tuesday, April 18th. Finally, Zacks Investment Research upgraded Puma Biotechnology from a hold rating to a buy rating and set a $36.00 target price for the company in a research note on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Puma Biotechnology presently has a consensus rating of Buy and an average price target of $86.94.

Shares of Puma Biotechnology (NYSE PBYI) traded down 0.76% during midday trading on Monday, reaching $77.90. 1,418,413 shares of the company traded hands. The stock has a 50 day moving average price of $57.52 and a 200 day moving average price of $41.84. The firm’s market capitalization is $2.88 billion. Puma Biotechnology has a 1-year low of $27.64 and a 1-year high of $92.00.

Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.06) by $0.09. Analysts expect that Puma Biotechnology will post ($8.50) earnings per share for the current fiscal year.

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In related news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $75.38, for a total value of $93,147,066.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,990,088 shares of company stock valued at $157,553,113 in the last three months. 22.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jana Partners LLC purchased a new position in Puma Biotechnology during the third quarter worth approximately $5,101,000. KCG Holdings Inc. purchased a new position in Puma Biotechnology during the third quarter worth approximately $1,002,000. Stephens Inc. AR purchased a new position in Puma Biotechnology during the third quarter worth approximately $302,000. Traynor Capital Management Inc. increased its position in Puma Biotechnology by 27.1% in the third quarter. Traynor Capital Management Inc. now owns 10,972 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 2,341 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Puma Biotechnology by 1.0% in the third quarter. California State Teachers Retirement System now owns 52,275 shares of the biopharmaceutical company’s stock worth $3,505,000 after buying an additional 500 shares in the last quarter. 80.98% of the stock is currently owned by institutional investors.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

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