Puma Biotechnology Inc (NYSE:PBYI) has earned an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $113.11.
A number of brokerages recently commented on PBYI. Citigroup Inc. raised shares of Puma Biotechnology to a “buy” rating and set a $105.00 price target for the company in a report on Sunday, May 28th. Royal Bank Of Canada increased their price target on shares of Puma Biotechnology from $40.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. J P Morgan Chase & Co reissued a “buy” rating on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a “buy” rating and issued a $118.00 price objective (up previously from $105.00) on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th.
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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 5,000 shares of Puma Biotechnology 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 transaction, the senior vice president now directly owns 34,237 shares of the company’s stock, valued at $2,982,042.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of Puma Biotechnology 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 transaction, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,173 shares of company stock worth $3,373,689. 22.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PBYI. Strs Ohio purchased a new stake in shares of Puma Biotechnology during the second quarter valued at $122,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Puma Biotechnology during the second quarter valued at $146,000. Bank of Montreal Can purchased a new stake in shares of Puma Biotechnology during the first quarter valued at $195,000. Alambic Investment Management L.P. purchased a new stake in shares of Puma Biotechnology during the first quarter valued at $201,000. Finally, Kazazian Asset Management LLC purchased a new stake in shares of Puma Biotechnology during the second quarter valued at $209,000. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Puma Biotechnology (NYSE:PBYI) traded down 2.65% during mid-day trading on Friday, reaching $102.75. The company had a trading volume of 856,630 shares. The firm’s 50-day moving average price is $88.71 and its 200 day moving average price is $64.52. The company’s market cap is $3.82 billion. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $109.85.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly 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). Equities analysts expect that Puma Biotechnology will post ($8.67) EPS for the current year.
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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