BidaskClub upgraded shares of Puma Biotechnology Inc (NYSE:PBYI) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.

Other analysts also recently issued research reports about the company. J P Morgan Chase & Co restated a buy rating on shares of Puma Biotechnology in a report on Tuesday, July 18th. Citigroup Inc. reaffirmed a buy rating and set a $114.00 target price on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Stifel Nicolaus reaffirmed a buy rating and set a $118.00 target price (up previously from $105.00) on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Credit Suisse Group AG reaffirmed an outperform rating and set a $136.00 target price on shares of Puma Biotechnology in a research note on Wednesday, September 27th. Finally, Leerink Swann reaffirmed an outperform rating and set a $125.00 target price on shares of Puma Biotechnology in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $122.89.

Puma Biotechnology (NYSE PBYI) traded down 1.29% during trading on Tuesday, reaching $122.65. 258,667 shares of the company’s stock traded hands. The company has a 50-day moving average of $100.67 and a 200 day moving average of $73.32. The stock’s market capitalization is $4.56 billion. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $127.02.

Puma Biotechnology (NYSE:PBYI) last issued its quarterly 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). On average, equities research analysts expect that Puma Biotechnology will post ($8.62) earnings per share for the current fiscal year.

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In related news, SVP Richard Paul Bryce sold 1,998 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.48, for a total value of $188,771.04. Following the completion of the sale, the senior vice president now owns 27,246 shares of the company’s stock, valued at approximately $2,574,202.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alan H. Auerbach sold 13,175 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total value of $1,248,067.75. Following the completion of the sale, the insider now directly owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last three months, insiders sold 45,173 shares of company stock valued at $4,738,189. 22.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in PBYI. Strs Ohio bought a new stake in Puma Biotechnology during the second quarter worth approximately $122,000. Cubist Systematic Strategies LLC bought a new stake in Puma Biotechnology during the second quarter worth approximately $146,000. Kazazian Asset Management LLC bought a new stake in Puma Biotechnology during the second quarter worth approximately $209,000. Teacher Retirement System of Texas bought a new stake in Puma Biotechnology during the second quarter worth approximately $211,000. Finally, Ameritas Investment Partners Inc. boosted its position in Puma Biotechnology by 5.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 140 shares during the period. 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.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

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