Shares of Puma Biotechnology Inc (NYSE:PBYI) have been given a consensus rating of “Buy” by the ten brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $104.94.
Several research firms recently weighed in on PBYI. Bank of America Corporation restated a “buy” rating and set a $117.00 price target (up from $100.00) on shares of Puma Biotechnology in a report on Friday. Leerink Swann reaffirmed an “outperform” rating and issued a $125.00 price objective (up previously from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. Citigroup Inc. reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Puma Biotechnology in a research report on Tuesday, July 18th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $118.00 price objective (up previously from $90.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th.
Puma Biotechnology (NYSE PBYI) traded up 1.64% on Friday, reaching $95.85. 1,277,640 shares of the company’s stock traded hands. The company’s 50 day moving average is $84.95 and its 200-day moving average is $50.35. The stock’s market cap is $3.54 billion. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $97.14.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($2.06) by $0.09. Equities analysts expect that Puma Biotechnology will post ($8.43) EPS for the current year.
In other news, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $87.84, for a total value of $44,546,123.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard Paul Bryce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total transaction of $435,500.00. Following the completion of the sale, the senior vice president now directly owns 34,237 shares in the company, valued at approximately $2,982,042.70. The disclosure for this sale can be found here. In the last three months, insiders sold 2,010,261 shares of company stock worth $159,425,452. Insiders own 22.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in Puma Biotechnology during the second quarter valued at about $227,000. Creative Planning raised its stake in Puma Biotechnology by 62.3% in the second quarter. Creative Planning now owns 2,862 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 1,099 shares during the period. Bank of Montreal Can acquired a new stake in Puma Biotechnology during the first quarter valued at about $195,000. Alambic Investment Management L.P. acquired a new stake in Puma Biotechnology during the first quarter valued at about $201,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in Puma Biotechnology during the first quarter valued at about $257,000. 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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