Puma Biotechnology Sees Unusually Large Options Volume (PBYI)

Puma Biotechnology Inc (NASDAQ:PBYI) was the target of some unusual options trading on Monday. Stock investors acquired 8,565 call options on the company. This is an increase of Infinity compared to the typical volume of 0 call options.

Several research analysts have recently commented on the company. J P Morgan Chase & Co set a $105.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reduced their price target on Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating for the company in a research report on Friday, November 10th. They noted that the move was a valuation call. BidaskClub lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Leerink Swann reissued an “outperform” rating and issued a $125.00 price target on shares of Puma Biotechnology in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $136.00 price target on shares of Puma Biotechnology in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $130.67.

Puma Biotechnology (PBYI) opened at $100.70 on Thursday. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.50) by $0.43. The business had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $3.78 million. During the same quarter last year, the firm earned ($1.11) earnings per share. research analysts predict that Puma Biotechnology will post -8.19 EPS for the current fiscal year.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of Puma Biotechnology stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $100.09, for a total transaction of $1,501,350.00. Following the completion of the sale, the senior vice president now directly owns 28,239 shares of the company’s stock, valued at approximately $2,826,441.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund grew its stake in Puma Biotechnology by 4.7% during the 2nd quarter. New York State Common Retirement Fund now owns 32,247 shares of the biopharmaceutical company’s stock worth $2,818,000 after buying an additional 1,446 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Puma Biotechnology during the 2nd quarter worth $211,000. Renaissance Technologies LLC purchased a new position in Puma Biotechnology during the 1st quarter worth $7,682,000. BlackRock Inc. grew its stake in Puma Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after buying an additional 86,924 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in Puma Biotechnology during the 2nd quarter worth $302,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.

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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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