Puma Biotechnology Inc (PBYI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Puma Biotechnology Inc (NASDAQ:PBYI) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $130.67.

Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating on the stock in a report on Friday, November 10th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and set a $136.00 target price on shares of Puma Biotechnology in a report on Wednesday, September 27th. BidaskClub upgraded Puma Biotechnology from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Barclays assumed coverage on Puma Biotechnology in a report on Wednesday, September 6th. They set an “overweight” rating and a $103.00 target price on the stock. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $131.00 target price on shares of Puma Biotechnology in a report on Wednesday, October 4th.

In related news, insider Charles R. Eyler sold 1,322 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $105.46, for a total value of $139,418.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the senior vice president now owns 42,239 shares in the company, valued at approximately $5,068,680. The disclosure for this sale can be found here. 21.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PBYI. Strs Ohio acquired a new position in Puma Biotechnology in the second quarter valued at about $122,000. Cubist Systematic Strategies LLC acquired a new position in Puma Biotechnology in the second quarter valued at about $146,000. Kazazian Asset Management LLC acquired a new position in Puma Biotechnology in the second quarter valued at about $209,000. Teacher Retirement System of Texas acquired a new position in Puma Biotechnology in the second quarter valued at about $211,000. Finally, Ameritas Investment Partners Inc. lifted its stake in Puma Biotechnology by 5.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock valued at $220,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Shares of Puma Biotechnology (PBYI) traded down $1.50 during mid-day trading on Monday, hitting $98.20. The stock had a trading volume of 1,332,000 shares, compared to its average volume of 1,083,845. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90.

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

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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.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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