J P Morgan Chase & Co reissued their buy rating on shares of Puma Biotechnology Inc (NYSE:PBYI) in a report released on Tuesday, July 18th.
Several other brokerages have also weighed in on PBYI. Citigroup Inc. reissued a buy rating and set a $105.00 target price on shares of Puma Biotechnology in a research report on Friday, June 30th. Leerink Swann reissued an outperform rating and set a $115.00 target price on shares of Puma Biotechnology in a research report on Monday, July 10th. Stifel Nicolaus reissued a buy rating and set a $105.00 target price 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 target price (up previously from $90.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Puma Biotechnology from a hold rating to a sell rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Puma Biotechnology has a consensus rating of Buy and a consensus target price of $109.56.
Puma Biotechnology (NYSE PBYI) opened at 78.45 on Tuesday. The stock’s 50 day moving average is $88.59 and its 200 day moving average is $56.34. The firm’s market cap is $2.90 billion. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $98.85.
Puma Biotechnology (NYSE:PBYI) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the consensus estimate of ($1.32) by $0.78. On average, equities research analysts expect that Puma Biotechnology will post ($8.63) EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Puma Biotechnology Inc (NYSE:PBYI) Given Buy Rating at J P Morgan Chase & Co” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/13/j-p-morgan-chase-co-reaffirms-buy-rating-for-puma-biotechnology-inc-nysepbyi-updated-updated-updated.html.
In other news, insider Alan H. Auerbach sold 13,175 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the transaction, the insider now owns 4,170,623 shares of the company’s stock, valued at $395,083,116.79. The transaction was disclosed in a filing 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 business’s stock in a transaction that occurred on Friday, May 26th. The shares were 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. In the last ninety days, insiders have sold 2,010,261 shares of company stock worth $159,425,452. 22.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY raised its position in Puma Biotechnology by 12.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,142 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 2,247 shares during the last quarter. Guggenheim Capital LLC raised its position in Puma Biotechnology by 11.1% in the fourth quarter. Guggenheim Capital LLC now owns 57,731 shares of the biopharmaceutical company’s stock worth $1,772,000 after buying an additional 5,784 shares during the last quarter. Norges Bank bought a new position in Puma Biotechnology during the fourth quarter worth about $7,693,000. Teachers Advisors LLC raised its position in Puma Biotechnology by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 142,373 shares of the biopharmaceutical company’s stock worth $4,371,000 after buying an additional 7,719 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its position in Puma Biotechnology by 973.8% in the fourth quarter. Highbridge Capital Management LLC now owns 73,864 shares of the biopharmaceutical company’s stock worth $2,267,000 after buying an additional 66,985 shares during the last quarter. 80.98% of the stock is currently owned by institutional investors and hedge funds.
About Puma Biotechnology
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.
