Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a report released on Monday, July 10th. They currently have a $105.00 target price on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target points to a potential upside of 28.91% from the stock’s current price.
Several other brokerages have also commented on PBYI. J P Morgan Chase & Co reissued an “overweight” rating and issued a $89.00 price target on shares of Puma Biotechnology in a report on Wednesday, May 24th. Cowen and Company reissued a “market perform” rating on shares of Puma Biotechnology in a report on Monday, May 22nd. Zacks Investment Research lowered shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Credit Suisse Group reissued an “outperform” rating and issued a $58.00 price target on shares of Puma Biotechnology in a report on Tuesday, April 18th. Finally, Leerink Swann reissued an “outperform” rating and issued a $115.00 price target on shares of Puma Biotechnology in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $101.75.
Puma Biotechnology (PBYI) traded down 2.63% on Monday, reaching $81.45. 799,832 shares of the company traded hands. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $98.85. The stock’s market capitalization is $3.01 billion. The stock’s 50-day moving average is $88.83 and its 200-day moving average is $54.72.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, beating the consensus estimate of ($2.06) by $0.09. Equities research analysts expect that Puma Biotechnology will post ($8.43) EPS for the current year.
In other Puma Biotechnology news, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.48, for a total value of $188,771.04. Following the transaction, the senior vice president now owns 27,246 shares of the company’s stock, valued at $2,574,202.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $75.38, for a total transaction of $93,147,066.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,010,261 shares of company stock worth $159,425,452. Corporate insiders own 22.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Puma Biotechnology during the second quarter worth approximately $122,000. Bank of Montreal Can bought a new position in Puma Biotechnology during the first quarter worth approximately $195,000. Alambic Investment Management L.P. bought a new position in Puma Biotechnology during the first quarter worth approximately $201,000. Teacher Retirement System of Texas bought a new position in Puma Biotechnology during the second quarter worth approximately $211,000. Finally, Fox Run Management L.L.C. bought a new position in Puma Biotechnology during the second quarter worth approximately $227,000. 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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