Shares of Puma Biotechnology Inc (NYSE:PBYI) have earned an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $112.13.
A number of analysts recently issued reports on PBYI shares. Credit Suisse Group restated an “outperform” rating and set a $58.00 target price on shares of Puma Biotechnology in a research report on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating and set a $88.00 target price on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Royal Bank Of Canada set a $40.00 price target on shares of Puma Biotechnology and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, May 16th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $88.00 target price on shares of Puma Biotechnology in a research note on Monday, May 22nd.
Puma Biotechnology (NYSE PBYI) traded up 2.78% during mid-day trading on Friday, reaching $74.00. The company’s stock had a trading volume of 424,062 shares. Puma Biotechnology has a one year low of $28.35 and a one year high of $98.85. The stock has a 50-day moving average price of $88.81 and a 200-day moving average price of $56.00. The company’s market capitalization is $2.73 billion.
Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.78. Equities research analysts forecast that Puma Biotechnology will post ($8.63) EPS for the current year.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total transaction of $1,248,067.75. Following the completion of the transaction, the insider now directly 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 through this hyperlink. Also, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $87.84, for a total transaction of $44,546,123.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,010,261 shares of company stock valued at $159,425,452. 22.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Puma Biotechnology during the second quarter valued at approximately $122,000. Bank of Montreal Can acquired a new position in Puma Biotechnology during the first quarter valued at approximately $195,000. Alambic Investment Management L.P. acquired a new position in Puma Biotechnology during the first quarter valued at approximately $201,000. Teacher Retirement System of Texas acquired a new position in Puma Biotechnology during the second quarter valued at approximately $211,000. Finally, ProShare Advisors LLC acquired a new position in Puma Biotechnology during the second quarter valued at approximately $222,000. 80.98% of the stock is owned by institutional investors and hedge funds.
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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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