Puma Biotechnology Inc (PBYI) Rating Reiterated by J P Morgan Chase & Co
Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating reiterated by equities research analysts at J P Morgan Chase & Co in a research note issued to investors on Wednesday. They currently have a $131.00 target price on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 5.43% from the company’s current price.
A number of other research analysts also recently commented on the stock. BidaskClub upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on shares of Puma Biotechnology from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group AG reiterated an “outperform” rating and set a $136.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, September 27th. Barclays PLC assumed coverage on shares of Puma Biotechnology in a research note on Wednesday, September 6th. They set an “overweight” rating and a $103.00 price objective on the stock. Finally, Leerink Swann reiterated an “outperform” rating and set a $125.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $122.89.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 124.25 on Wednesday. The firm’s market capitalization is $4.62 billion. The company’s 50-day moving average is $100.67 and its 200 day moving average is $73.32. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $125.00.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($0.78). Analysts anticipate that Puma Biotechnology will post ($8.62) EPS for the current fiscal year.
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In other news, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the senior vice president now owns 42,239 shares in the company, valued at $5,068,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,173 shares of company stock worth $4,738,189. Insiders own 22.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new stake in shares of Puma Biotechnology in the 2nd quarter worth about $211,000. Renaissance Technologies LLC acquired a new stake in shares of Puma Biotechnology in the 1st quarter worth about $7,682,000. American International Group Inc. increased its holdings in shares of Puma Biotechnology by 19.2% in the 1st quarter. American International Group Inc. now owns 16,931 shares of the biopharmaceutical company’s stock worth $630,000 after acquiring an additional 2,733 shares during the period. Endurant Capital Management LP acquired a new stake in shares of Puma Biotechnology in the 1st quarter worth about $1,101,000. Finally, Swiss National Bank increased its holdings in shares of Puma Biotechnology by 2.1% in the 1st quarter. Swiss National Bank now owns 54,730 shares of the biopharmaceutical company’s stock worth $2,036,000 after acquiring an additional 1,100 shares during the period. 80.98% of the stock is currently owned by institutional investors and hedge funds.
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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