Puma Biotechnology Inc. (NYSE:PBYI) had its target price hoisted by Credit Suisse Group AG from $54.00 to $111.00 in a research report report published on Thursday morning. They currently have an outperform rating on the biopharmaceutical company’s stock.
A number of other equities analysts have also recently commented on PBYI. Vetr upgraded Puma Biotechnology from a buy rating to a strong-buy rating and set a $42.54 target price for the company in a report on Tuesday, May 31st. Zacks Investment Research cut Puma Biotechnology from a hold rating to a sell rating in a research note on Tuesday, June 7th. Citigroup Inc. set a $88.00 price objective on Puma Biotechnology and gave the company a buy rating in a research note on Tuesday, September 20th. JPMorgan Chase & Co. set a $89.00 price objective on Puma Biotechnology and gave the company a buy rating in a research note on Tuesday, September 20th. Finally, Stifel Nicolaus reiterated a hold rating on shares of Puma Biotechnology in a research note on Sunday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $68.56.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 70.41 on Thursday. The company’s 50 day moving average price is $57.67 and its 200-day moving average price is $40.01. The firm’s market cap is $2.29 billion. Puma Biotechnology has a 12-month low of $19.74 and a 12-month high of $94.93.
Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating analysts’ consensus estimates of ($2.18) by $1.01. On average, equities research analysts anticipate that Puma Biotechnology will post ($8.12) EPS for the current year.
Several large investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Puma Biotechnology by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 465 shares during the period. Quantbot Technologies LP purchased a new position in Puma Biotechnology during the second quarter valued at approximately $183,000. Legal & General Group Plc raised its position in Puma Biotechnology by 142.4% in the second quarter. Legal & General Group Plc now owns 6,142 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 3,608 shares during the period. Canada Pension Plan Investment Board raised its position in Puma Biotechnology by 71.8% in the first quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 2,800 shares during the period. Finally, Fiera Capital Corp purchased a new position in Puma Biotechnology during the second quarter valued at approximately $232,000. 97.53% of the stock is currently owned by institutional investors and hedge funds.
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 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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