JPMorgan Chase & Co. Reiterates $89.00 Price Target for Puma Biotechnology Inc. (PBYI)
Puma Biotechnology Inc. (NYSE:PBYI) has been assigned a $89.00 price target by investment analysts at JPMorgan Chase & Co. in a report released on Tuesday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 36.59% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Stifel Nicolaus raised Puma Biotechnology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $61.00 to $88.00 in a research note on Wednesday. Citigroup Inc. set a $88.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Vetr lowered Puma Biotechnology from a “strong-buy” rating to a “strong sell” rating and set a $39.50 price target on the stock. in a research note on Wednesday, August 10th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Puma Biotechnology in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $60.94.
Puma Biotechnology (NYSE:PBYI) traded up 4.80% during midday trading on Tuesday, reaching $68.29. The company’s stock had a trading volume of 2,075,498 shares. The stock’s market capitalization is $2.22 billion. The firm’s 50-day moving average price is $54.72 and its 200-day moving average price is $39.31. Puma Biotechnology has a 52 week low of $19.74 and a 52 week high of $95.18.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/jpmorgan-chase-co-reiterates-89-00-price-target-for-puma-biotechnology-inc-pbyi.html
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.18) by $1.01. On average, analysts anticipate that Puma Biotechnology will post ($8.12) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Puma Biotechnology during the fourth quarter worth $16,219,000. Fox Run Management L.L.C. acquired a new position in shares of Puma Biotechnology during the first quarter worth $385,000. Parametrica Management Ltd acquired a new position in shares of Puma Biotechnology during the first quarter worth $244,000. BlackRock Group LTD raised its position in shares of Puma Biotechnology by 36.2% in the first quarter. BlackRock Group LTD now owns 29,622 shares of the biopharmaceutical company’s stock worth $870,000 after buying an additional 7,869 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Puma Biotechnology by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,979 shares of the biopharmaceutical company’s stock worth $17,181,000 after buying an additional 14,132 shares in the last quarter. 97.53% of the stock is currently owned by institutional investors.
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 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.
Receive News & Ratings for Puma Biotechnology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.