Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “outperform” rating restated by Leerink Swann in a research note issued to investors on Monday, Marketbeat reports. They currently have a $115.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s target price would suggest a potential upside of 33.95% from the stock’s previous close.
A number of other brokerages have also issued reports on PBYI. Credit Suisse Group reiterated an “outperform” rating and set a $58.00 price target on shares of Puma Biotechnology in a research report on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Royal Bank of Canada set a $40.00 price target on Puma Biotechnology and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Tuesday, May 16th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Puma Biotechnology has an average rating of “Buy” and an average target price of $89.75.
Puma Biotechnology (NYSE:PBYI) traded down 1.38% during midday trading on Monday, hitting $85.85. The stock had a trading volume of 699,152 shares. The stock has a 50-day moving average price of $70.29 and a 200 day moving average price of $44.73. Puma Biotechnology has a one year low of $28.35 and a one year high of $92.00. The firm’s market cap is $3.17 billion.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.06) by $0.09. On average, analysts predict that Puma Biotechnology will post ($8.50) earnings per share for the current year.
In other Puma Biotechnology news, major shareholder Adage Capital Partners Gp, L.L sold 247,260 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.32, for a total value of $19,859,923.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 1,990,088 shares of company stock worth $157,553,113 over the last three months. 22.70% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in Puma Biotechnology during the second quarter valued at $227,000. Bank of Montreal Can acquired a new position in Puma Biotechnology during the first quarter valued at $195,000. Alambic Investment Management L.P. acquired a new position in Puma Biotechnology during the first quarter valued at $201,000. Parametric Portfolio Associates LLC acquired a new position in Puma Biotechnology during the first quarter valued at $257,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in Puma Biotechnology during the first quarter valued at $335,000. 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.
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