J P Morgan Chase & Co set a $105.00 price objective on Puma Biotechnology Inc (NYSE:PBYI) in a research note published on Wednesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research firms have also recently commented on PBYI. Stifel Nicolaus reissued a buy rating and set a $118.00 target price (up previously from $105.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Zacks Investment Research cut shares of Puma Biotechnology from a hold rating to a sell rating in a research report on Tuesday, July 11th. Cowen and Company reissued a market perform rating on shares of Puma Biotechnology in a research report on Monday, May 22nd. Citigroup Inc. reissued a buy rating and set a $114.00 target price on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Credit Suisse Group reissued an outperform rating and set a $58.00 target price on shares of Puma Biotechnology in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $109.56.
Puma Biotechnology (NYSE PBYI) traded up 8.96% during trading on Wednesday, hitting $78.45. 1,128,001 shares of the stock traded hands. The firm has a 50-day moving average price of $88.59 and a 200 day moving average price of $56.34. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $98.85. The firm’s market cap is $2.90 billion.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.78. On average, equities analysts forecast that Puma Biotechnology will post ($8.63) EPS for the current fiscal year.
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In other news, SVP Richard Paul Bryce sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total value of $435,500.00. Following the sale, the senior vice president now owns 34,237 shares in the company, valued at $2,982,042.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan H. Auerbach sold 13,175 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total transaction of $1,248,067.75. Following the completion of the sale, the insider now owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,010,261 shares of company stock valued at $159,425,452. Corporate insiders own 22.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Puma Biotechnology during the second quarter worth $122,000. Bank of Montreal Can acquired a new stake in Puma Biotechnology during the first quarter worth $195,000. Alambic Investment Management L.P. acquired a new stake in Puma Biotechnology during the first quarter worth $201,000. Teacher Retirement System of Texas acquired a new stake in Puma Biotechnology during the second quarter worth $211,000. Finally, ProShare Advisors LLC acquired a new stake in Puma Biotechnology during the second quarter worth $222,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.
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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