Puma Biotechnology Inc (NYSE:PBYI) Given a $88.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $88.00 price target on Puma Biotechnology Inc (NYSE:PBYI) in a research report sent to investors on Monday, July 17th. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on PBYI. Credit Suisse Group reaffirmed an outperform rating and set a $58.00 target price on shares of Puma Biotechnology in a report on Tuesday, April 18th. Stifel Nicolaus reaffirmed a buy rating and set a $88.00 target price on shares of Puma Biotechnology in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Puma Biotechnology from a hold rating to a buy rating and set a $36.00 price target on the stock in a research report on Tuesday, May 16th. Citigroup Inc. reissued a buy rating and set a $88.00 price target on shares of Puma Biotechnology in a research report on Monday, May 22nd. Finally, Cowen and Company reissued a market perform rating on shares of Puma Biotechnology in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Puma Biotechnology presently has an average rating of Buy and a consensus price target of $109.56.

Shares of Puma Biotechnology (NYSE:PBYI) traded up 8.96% during trading on Monday, reaching $78.45. The company had a trading volume of 1,128,001 shares. The firm has a 50-day moving average of $88.59 and a 200-day moving average of $56.34. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $98.85. The company’s market cap is $2.90 billion.

Puma Biotechnology (NYSE:PBYI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.78. On average, equities research analysts anticipate that Puma Biotechnology will post ($8.63) EPS for the current year.

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In other news, SVP Richard Paul Bryce sold 5,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $87.10, for a total transaction of $435,500.00. Following the transaction, the senior vice president now directly owns 34,237 shares in the company, valued at approximately $2,982,042.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 dated Friday, May 26th. The stock was 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. Insiders sold a total of 2,010,261 shares of company stock worth $159,425,452 over the last ninety days. 22.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Puma Biotechnology by 1.8% in the second quarter. Bank of Montreal Can now owns 5,351 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 97 shares during the period. Legal & General Group Plc raised its position in shares of Puma Biotechnology by 2.8% in the first quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock worth $346,000 after buying an additional 249 shares during the period. Rhumbline Advisers raised its position in shares of Puma Biotechnology by 0.8% in the second quarter. Rhumbline Advisers now owns 33,733 shares of the biopharmaceutical company’s stock worth $2,948,000 after buying an additional 271 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Puma Biotechnology by 13.5% in the second quarter. Parametric Portfolio Associates LLC now owns 7,844 shares of the biopharmaceutical company’s stock worth $686,000 after buying an additional 936 shares during the period. Finally, Franklin Street Advisors Inc. NC raised its position in shares of Puma Biotechnology by 3.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 30,000 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 1,000 shares during the period. Institutional investors own 80.98% of the company’s stock.

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.