Puma Biotechnology Sees Unusually Large Options Volume (PBYI)
Puma Biotechnology Inc (NASDAQ:PBYI) saw unusually large options trading on Friday. Stock investors purchased 7,131 call options on the company. This represents an increase of approximately Infinity compared to the average volume of 0 call options.
Puma Biotechnology (PBYI) opened at $100.20 on Wednesday. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90.
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 the consensus estimate of $3.78 million. During the same period last year, the business posted ($1.11) earnings per share.
In related news, SVP Richard Paul Bryce sold 15,000 shares of the 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 sale, the senior vice president now owns 42,239 shares in the company, valued at $5,068,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Puma Biotechnology during the second quarter valued at about $122,000. Cubist Systematic Strategies LLC bought a new stake in shares of Puma Biotechnology in the second quarter worth about $146,000. Sei Investments Co. bought a new stake in shares of Puma Biotechnology in the third quarter worth about $256,000. Kazazian Asset Management LLC bought a new stake in shares of Puma Biotechnology in the second quarter worth about $209,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Puma Biotechnology in the second quarter worth about $211,000. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on PBYI. BidaskClub cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Citigroup Inc. increased their target price on Puma Biotechnology from $156.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Stifel Nicolaus reissued a “buy” rating and issued a $110.00 target price (down previously from $118.00) on shares of Puma Biotechnology in a research note on Thursday, August 10th. J P Morgan Chase & Co set a $105.00 target price on Puma Biotechnology and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Barclays PLC reissued a “buy” rating and issued a $122.00 target price (up previously from $103.00) on shares of Puma Biotechnology in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $130.67.
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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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