Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating reaffirmed by Stifel Nicolaus in a research note issued on Monday. They presently have a $105.00 price target on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 20.62% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Leerink Swann began coverage on shares of Puma Biotechnology in a research note on Monday. They issued an “outperform” rating and a $115.00 price target on the stock. Citigroup Inc. raised shares of Puma Biotechnology to a “buy” rating and set a $105.00 target price on the stock in a research report on Sunday, May 28th. Royal Bank of Canada increased their target price on shares of Puma Biotechnology from $60.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 6th. J P Morgan Chase & Co reissued an “overweight” rating and set a $89.00 target price on shares of Puma Biotechnology in a research report on Tuesday, June 6th. Finally, Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $89.75.
Shares of Puma Biotechnology (NYSE:PBYI) traded down 0.86% during trading on Monday, reaching $86.30. The company had a trading volume of 136,610 shares. The stock’s 50-day moving average price is $70.29 and its 200-day moving average price is $44.73. The stock’s market capitalization is $3.19 billion. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $92.00.
Puma Biotechnology (NYSE:PBYI) last released its earnings results 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. Equities analysts forecast that Puma Biotechnology will post ($8.50) earnings per share for the current fiscal year.
In other Puma Biotechnology news, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of Puma Biotechnology stock in a transaction on Monday, June 5th. The shares were sold at an average price of $87.84, for a total transaction of $44,546,123.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 1,990,088 shares of company stock valued at $157,553,113. 22.70% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of PBYI. Bank of Montreal Can acquired a new stake in shares of Puma Biotechnology during the first quarter valued at approximately $195,000. Alambic Investment Management L.P. acquired a new stake in shares of Puma Biotechnology during the first quarter valued at approximately $201,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Puma Biotechnology during the first quarter valued at approximately $257,000. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Puma Biotechnology during the first quarter valued at approximately $335,000. Finally, Legal & General Group Plc boosted its stake 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 valued at $346,000 after buying an additional 249 shares during the period. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
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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