Puma Biotechnology Inc (NASDAQ:PBYI) shares dropped 5.2% during trading on Friday . The company traded as low as $99.45 and last traded at $99.70. Approximately 567,900 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,082,815 shares. The stock had previously closed at $105.20.

PBYI has been the subject of a number of recent research reports. Credit Suisse Group lifted their price objective on Puma Biotechnology from $118.00 to $136.00 and gave the company an “outperform” rating in a research note on Monday, September 11th. Leerink Swann lifted their price objective on Puma Biotechnology to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. BidaskClub upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Stifel Nicolaus lifted their price objective on Puma Biotechnology from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Finally, Bank of America reiterated a “buy” rating and set a $135.00 price objective (up previously from $117.00) on shares of Puma Biotechnology in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $130.67.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.50) by $0.43. The company had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $3.78 million. During the same quarter in the previous year, the firm posted ($1.11) EPS. equities research analysts anticipate that Puma Biotechnology Inc will post -8.19 EPS for the current year.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of Puma Biotechnology stock in a transaction on Friday, September 29th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the senior vice president now owns 42,239 shares of the company’s stock, valued at approximately $5,068,680. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles R. Eyler sold 1,322 shares of Puma Biotechnology stock in a transaction on Friday, December 1st. The stock was sold at an average price of $105.46, for a total value of $139,418.12. The disclosure for this sale can be found here. 21.10% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Puma Biotechnology in the 3rd quarter worth $2,279,000. California Public Employees Retirement System grew its holdings in shares of Puma Biotechnology by 0.7% in the third quarter. California Public Employees Retirement System now owns 108,000 shares of the biopharmaceutical company’s stock worth $12,933,000 after acquiring an additional 800 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Puma Biotechnology by 265.6% in the third quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock worth $57,743,000 after acquiring an additional 350,300 shares during the period. Perceptive Advisors LLC grew its holdings in shares of Puma Biotechnology by 26.0% in the third quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after acquiring an additional 190,500 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Puma Biotechnology by 1.8% in the third quarter. Janus Henderson Group PLC now owns 1,890,901 shares of the biopharmaceutical company’s stock worth $226,435,000 after acquiring an additional 33,270 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

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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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