Bank of America Corporation restated their buy rating on shares of Puma Biotechnology Inc (NYSE:PBYI) in a research report report published on Friday morning. Bank of America Corporation currently has a $117.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $100.00.
Several other research firms have also issued reports on PBYI. Leerink Swann reissued an outperform rating and set a $125.00 price target (up from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. Citigroup Inc. reissued a buy rating and set a $105.00 price target on shares of Puma Biotechnology in a research report on Friday, June 30th. Stifel Nicolaus reissued a buy rating and set a $105.00 price target on shares of Puma Biotechnology in a research report on Monday, July 10th. Credit Suisse Group reissued an outperform rating and set a $118.00 price target (up from $90.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, J P Morgan Chase & Co reissued a buy rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $101.75.
Puma Biotechnology (NYSE PBYI) opened at 94.30 on Friday. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $97.14. The stock’s market capitalization is $3.49 billion. The stock’s 50 day moving average is $84.95 and its 200-day moving average is $50.35.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings results 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. On average, equities research analysts expect that Puma Biotechnology will post ($8.43) earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This story was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://stocknewstimes.com/2017/07/24/bank-of-america-corporation-reaffirms-buy-rating-for-puma-biotechnology-inc-pbyi.html.
In other news, SVP Richard Paul Bryce sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $87.10, for a total value of $435,500.00. Following the completion of the transaction, the senior vice president now owns 34,237 shares of the company’s stock, valued at $2,982,042.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $75.38, for a total value of $93,147,066.00. The disclosure for this sale can be found here. Insiders sold 1,995,088 shares of company stock worth $157,988,613 over the last ninety days. 22.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in Puma Biotechnology during the second quarter valued at about $227,000. Creative Planning boosted its position 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 last quarter. Bank of Montreal Can acquired a new position in Puma Biotechnology during the first quarter valued at about $195,000. Alambic Investment Management L.P. acquired a new position in Puma Biotechnology during the first quarter valued at about $201,000. Finally, Parametric Portfolio Associates LLC acquired a new position in Puma Biotechnology during the first quarter valued at about $257,000. 80.98% of the stock is 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.
Receive News & Ratings for Puma Biotechnology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology Inc and related companies with MarketBeat.com's FREE daily email newsletter.
