Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating restated by equities researchers at J P Morgan Chase & Co in a research report issued on Tuesday, August 1st.
Several other brokerages also recently issued reports on PBYI. BidaskClub upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Bank of America Corporation restated a “buy” rating and set a $117.00 price objective (up from $100.00) on shares of Puma Biotechnology in a research report on Friday, July 21st. Cowen and Company restated an “outperform” rating and set a $120.00 price objective (up from $91.00) on shares of Puma Biotechnology in a research report on Saturday, July 22nd. Leerink Swann reaffirmed an “outperform” rating and set a $125.00 target price (up from $115.00) on shares of Puma Biotechnology in a report on Wednesday, July 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $105.00 target price on shares of Puma Biotechnology in a report on Friday, June 30th. One research 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 stock currently has an average rating of “Buy” and a consensus target price of $109.56.
Puma Biotechnology (PBYI) opened at 79.75 on Tuesday. The stock has a 50 day moving average price of $87.66 and a 200-day moving average price of $58.07. The company’s market capitalization is $2.97 billion. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $98.85.
Puma Biotechnology (NYSE:PBYI) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78. Equities analysts predict that Puma Biotechnology will post ($8.62) earnings per share for the current year.
In other Puma Biotechnology news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of Puma Biotechnology stock in a transaction on Friday, May 26th. The shares were sold at an average price of $75.38, for a total value of $93,147,066.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard Paul Bryce sold 1,998 shares of Puma Biotechnology stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.48, for a total transaction of $188,771.04. Following the completion of the sale, the senior vice president now directly owns 27,246 shares of the company’s stock, valued at $2,574,202.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,010,261 shares of company stock worth $159,425,452. 22.70% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Puma Biotechnology during the fourth quarter valued at approximately $7,693,000. Emerald Advisers Inc. PA acquired a new stake in Puma Biotechnology during the first quarter valued at approximately $14,110,000. BB Biotech AG increased its stake in Puma Biotechnology by 1.5% in the first quarter. BB Biotech AG now owns 245,616 shares of the biopharmaceutical company’s stock valued at $9,137,000 after buying an additional 3,625 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Puma Biotechnology during the first quarter valued at approximately $7,682,000. Finally, American International Group Inc. increased its stake in Puma Biotechnology by 19.2% in the first quarter. American International Group Inc. now owns 16,931 shares of the biopharmaceutical company’s stock valued at $630,000 after buying an additional 2,733 shares during the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
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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