Several analysts have recently updated their ratings and price targets for Puma Biotechnology (NYSE: PBYI):
- 9/22/2016 – Puma Biotechnology had its price target raised by analysts at Credit Suisse Group AG from $54.00 to $111.00. They now have an “outperform” rating on the stock.
- 9/22/2016 – Puma Biotechnology had its “sector perform” rating reaffirmed by analysts at RBC Capital Markets.
- 9/21/2016 – Puma Biotechnology was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $88.00 price target on the stock, up previously from $61.00.
- 9/20/2016 – Puma Biotechnology was given a new $88.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
- 9/20/2016 – Puma Biotechnology was given a new $89.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “buy” rating on the stock.
- 8/12/2016 – Puma Biotechnology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $51.00 price target on the stock. According to Zacks, “Puma’s second-quarter results were encouraging with the company reporting a narrower-than-expected loss. Puma is a development-stage biotech company focused on treatments targeting cancer. It has made significant progress with its lead candidate neratinib. Regulatory applications for neratinib for the treatment of breast cancer have been filed both in the U.S. and EU. Approval would be a huge boost for the company. Puma continues to expect net loss to narrow in subsequent quarters due to continued reduction in clinical trial expenses and expenses associated with the completion of regulatory filings for neratinib. The company also expects its R&D expenses to decrease in subsequent quarters for the same reasons. Considering that Puma has no approved product in its portfolio at the moment with neratinib being the company’s lead candidate, any hiccup in the development/regulatory process of neratinib will hurt the stock adversely.”
- 8/10/2016 – Puma Biotechnology was downgraded by analysts at Vetr from a “strong-buy” rating to a “strong sell” rating. They now have a $39.50 price target on the stock.
Puma Biotechnology Inc. (NYSE:PBYI) traded up 1.07% during midday trading on Monday, hitting $68.81. The company had a trading volume of 526,707 shares. The company’s market cap is $2.24 billion. Puma Biotechnology Inc. has a one year low of $19.74 and a one year high of $94.93. The company’s 50 day moving average is $56.36 and its 200-day moving average is $39.81.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($2.18) by $1.01. On average, equities analysts predict that Puma Biotechnology Inc. will post ($8.12) EPS for the current year.
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 global development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), which the Company is developing for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation; PB272 (neratinib (intravenous)), which the Company is developing for the treatment of patients with advanced cancer, and PB357, which is an orally administered agent.
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