Puma Biotechnology Inc (NYSE:PBYI) had its target price hoisted by Credit Suisse Group from $136.00 to $142.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 37.86% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. Barclays PLC reiterated a “buy” rating and set a $122.00 target price (up previously from $103.00) on shares of Puma Biotechnology in a research report on Friday. Citigroup Inc. increased their target price on Puma Biotechnology from $156.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada cut their target price on Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating for the company in a research report on Friday. They noted that the move was a valuation call. Leerink Swann increased their target price on Puma Biotechnology to $140.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $135.00 target price (up previously from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Puma Biotechnology currently has an average rating of “Buy” and an average target price of $130.67.
Puma Biotechnology (NYSE:PBYI) traded down $24.20 during midday trading on Friday, hitting $103.00. The stock had a trading volume of 5,677,100 shares, compared to its average volume of 1,118,516. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the consensus estimate of ($2.50) by $0.43. The company had revenue of $6.10 million during the quarter, compared to the consensus estimate of $3.78 million. During the same period last year, the business earned ($1.11) EPS.
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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,068,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBYI. Janus Henderson Group PLC purchased a new position in Puma Biotechnology during the 2nd quarter valued at approximately $162,302,000. Franklin Resources Inc. purchased a new position in Puma Biotechnology during the 2nd quarter valued at approximately $50,134,000. Bain Capital Public Equity Management LLC grew its holdings in Puma Biotechnology by 291.0% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 338,994 shares of the biopharmaceutical company’s stock valued at $29,628,000 after buying an additional 252,294 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Puma Biotechnology during the 1st quarter valued at approximately $7,682,000. Finally, HealthCor Management L.P. purchased a new position in Puma Biotechnology during the 2nd quarter valued at approximately $13,110,000. Institutional investors and hedge funds 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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