Puma Biotechnology (NASDAQ:PBYI) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, February 17th.
Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their price target on shares of Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. They noted that the move was a valuation call. Leerink Swann boosted their price target on shares of Puma Biotechnology to $140.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Citigroup upped their target price on shares of Puma Biotechnology from $156.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Barclays restated a “buy” rating and set a $122.00 target price (up from $103.00) on shares of Puma Biotechnology in a research note on Friday, November 10th. Finally, Credit Suisse Group upped their price target on Puma Biotechnology from $136.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $103.11.
Puma Biotechnology (NASDAQ PBYI) traded up $0.45 during mid-day trading on Friday, reaching $74.25. 561,378 shares of the company were exchanged, compared to its average volume of 1,010,000. Puma Biotechnology has a one year low of $28.35 and a one year high of $136.90. The firm has a market cap of $2,790.00, a PE ratio of -9.45 and a beta of 0.26.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 10,692 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $991,683.00. Following the sale, the insider now directly owns 4,155,931 shares of the company’s stock, valued at approximately $385,462,600.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard Paul Bryce sold 1,860 shares of Puma Biotechnology stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $172,515.00. Following the completion of the transaction, the senior vice president now directly owns 25,379 shares in the company, valued at $2,353,902.25. The disclosure for this sale can be found here. 21.10% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in Puma Biotechnology during the 2nd quarter worth approximately $146,000. First Republic Investment Management Inc. acquired a new position in shares of Puma Biotechnology in the 4th quarter worth approximately $208,000. Ameritas Investment Partners Inc. grew its position in shares of Puma Biotechnology by 5.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 140 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Puma Biotechnology in the 2nd quarter worth approximately $240,000. Finally, Sei Investments Co. acquired a new position in shares of Puma Biotechnology in the 3rd quarter worth approximately $256,000. Institutional investors own 96.47% 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.
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