Puma Biotechnology Inc (NYSE:PBYI) had its price objective hoisted by equities researchers at Credit Suisse Group from $118.00 to $136.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 32.36% from the stock’s current price.
A number of other research firms also recently commented on PBYI. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $89.00 target price on shares of Puma Biotechnology in a report on Wednesday, May 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 target price (down previously from $118.00) on shares of Puma Biotechnology in a report on Thursday, August 10th. Zacks Investment Research downgraded Puma Biotechnology from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cowen and Company reaffirmed a “market perform” rating on shares of Puma Biotechnology in a report on Monday, May 22nd. Finally, BidaskClub downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. 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 to the stock. Puma Biotechnology currently has a consensus rating of “Buy” and a consensus price target of $110.70.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 102.75 on Monday. The stock’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. The firm has a 50-day moving average price of $88.71 and a 200-day moving average price of $64.52.
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, analysts forecast that Puma Biotechnology will post ($8.67) earnings per share for the current fiscal year.
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In related news, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the sale, the insider now owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard Paul Bryce sold 1,998 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.48, for a total value of $188,771.04. Following the completion of the sale, the senior vice president now directly owns 27,246 shares in the company, valued at approximately $2,574,202.08. The disclosure for this sale can be found here. In the last three months, insiders sold 35,173 shares of company stock worth $3,373,689. Company insiders own 22.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its holdings 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 purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Puma Biotechnology by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,299 shares of the biopharmaceutical company’s stock worth $1,950,000 after purchasing an additional 437 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth approximately $146,000. Janus Henderson Group PLC bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth approximately $162,302,000. Finally, Kazazian Asset Management LLC bought a new stake in shares of Puma Biotechnology in the 2nd quarter worth approximately $209,000. 80.98% of the stock is currently owned by institutional investors and hedge funds.
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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