Puma Biotechnology Inc (PBYI) Raised to Buy at BidaskClub
Puma Biotechnology Inc (NYSE:PBYI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
Other research analysts have also recently issued reports about the company. Citigroup Inc. raised Puma Biotechnology to a “buy” rating and set a $105.00 target price for the company in a research report on Sunday, May 28th. Royal Bank Of Canada raised their target price on Puma Biotechnology from $40.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 25th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reiterated a “buy” rating and set a $118.00 price objective (up from $105.00) on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Finally, Zacks Investment Research lowered Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $108.90.
Shares of Puma Biotechnology (PBYI) opened at 107.40 on Friday. The firm’s 50-day moving average is $88.12 and its 200 day moving average is $63.32. The company’s market cap is $4.00 billion. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $107.65.
Puma Biotechnology (NYSE:PBYI) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the consensus estimate of ($1.32) by $0.78. Equities analysts expect that Puma Biotechnology will post ($8.60) EPS for the current fiscal year.
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In other news, SVP Richard Paul Bryce sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $87.10, for a total value of $435,500.00. Following the completion of the sale, the senior vice president now directly owns 34,237 shares in the company, valued at $2,982,042.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Adage Capital Partners Gp, L.L sold 247,260 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.32, for a total value of $19,859,923.20. The disclosure for this sale can be found here. Insiders have sold 267,433 shares of company stock valued at $21,732,262 over the last quarter. Corporate insiders own 22.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Puma Biotechnology in the second quarter valued at $122,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Puma Biotechnology in the second quarter valued at $146,000. Bank of Montreal Can acquired a new stake in shares of Puma Biotechnology in the first quarter valued at $195,000. Alambic Investment Management L.P. acquired a new stake in shares of Puma Biotechnology in the first quarter valued at $201,000. Finally, Kazazian Asset Management LLC acquired a new stake in shares of Puma Biotechnology in the second quarter valued at $209,000. Institutional investors own 80.98% of the company’s stock.
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 development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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