Puma Biotechnology Inc. (PBYI) PT Set at $89.00 by JPMorgan Chase & Co.
Puma Biotechnology Inc. (NYSE:PBYI) has been given a $89.00 price target by equities research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 30.94% from the stock’s current price.
A number of other analysts have also recently commented on the company. Citigroup Inc. set a $88.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus raised Puma Biotechnology from a “hold” rating to a “buy” rating and upped their price objective for the company from $61.00 to $88.00 in a research report on Wednesday. Zacks Investment Research raised Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Friday, August 12th. Vetr cut Puma Biotechnology from a “strong-buy” rating to a “strong sell” rating and set a $39.50 price objective on the stock. in a research report on Wednesday, August 10th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 price objective (up from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.94.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 67.97 on Tuesday. The firm has a 50-day moving average price of $55.30 and a 200-day moving average price of $39.51. The stock’s market capitalization is $2.21 billion. Puma Biotechnology has a 52-week low of $19.74 and a 52-week high of $94.93.
Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($2.18) by $1.01. On average, analysts predict that Puma Biotechnology will post ($8.12) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Puma Biotechnology during the fourth quarter valued at $16,219,000. JPMorgan Chase & Co. raised its stake in Puma Biotechnology by 184.3% in the first quarter. JPMorgan Chase & Co. now owns 176,530 shares of the biopharmaceutical company’s stock valued at $5,185,000 after buying an additional 114,428 shares during the period. Parametrica Management Ltd bought a new stake in Puma Biotechnology during the first quarter valued at approximately $244,000. UBS Group AG raised its stake in Puma Biotechnology by 22.4% in the first quarter. UBS Group AG now owns 122,209 shares of the biopharmaceutical company’s stock valued at $3,589,000 after buying an additional 22,351 shares during the period. Finally, Iguana Healthcare Management LLC raised its stake in Puma Biotechnology by 16.3% in the first quarter. Iguana Healthcare Management LLC now owns 29,070 shares of the biopharmaceutical company’s stock valued at $854,000 after buying an additional 4,070 shares during the period. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
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 global development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), which the Company is developing for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation; PB272 (neratinib (intravenous)), which the Company is developing for the treatment of patients with advanced cancer, and PB357, which is an orally administered agent.
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