Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They presently have a $110.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $118.00. Stifel Nicolaus’ price target indicates a potential upside of 52.78% from the stock’s current price.
A number of other research analysts also recently commented on the stock. J P Morgan Chase & Co reissued an “overweight” rating and set a $89.00 target price on shares of Puma Biotechnology in a research report on Wednesday, May 24th. Zacks Investment Research downgraded shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Cowen and Company reaffirmed a “market perform” rating on shares of Puma Biotechnology in a research report on Monday, May 22nd. BidaskClub cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $114.00 target price on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Puma Biotechnology presently has a consensus rating of “Buy” and a consensus target price of $102.55.
Puma Biotechnology (PBYI) traded down 9.43% during mid-day trading on Thursday, hitting $72.00. 1,478,248 shares of the stock were exchanged. The company has a 50-day moving average of $89.05 and a 200-day moving average of $55.88. The stock’s market capitalization is $2.66 billion. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $98.85.
Puma Biotechnology (NYSE:PBYI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78. On average, equities analysts predict that Puma Biotechnology will post ($8.53) EPS for the current fiscal year.
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In other news, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total transaction of $1,248,067.75. Following the transaction, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $75.38, for a total transaction of $93,147,066.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,010,261 shares of company stock worth $159,425,452. 22.70% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Puma Biotechnology during the second quarter valued at $122,000. Teacher Retirement System of Texas acquired a new stake in Puma Biotechnology during the second quarter worth approximately $211,000. Fox Run Management L.L.C. acquired a new stake in Puma Biotechnology during the second quarter worth approximately $227,000. Creative Planning increased its stake in Puma Biotechnology by 62.3% in the second quarter. Creative Planning now owns 2,862 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 1,099 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Puma Biotechnology during the second quarter worth approximately $253,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
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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