Puma Biotechnology Inc. (NYSE:PBYI) has been given a $88.00 price objective by equities research analysts at Citigroup Inc. in a report issued on Tuesday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock. Citigroup Inc.’s price target points to a potential upside of 35.05% from the company’s previous close.

Other analysts also recently issued reports about the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Puma Biotechnology in a report on Tuesday, July 12th. Stifel Nicolaus upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and increased their price objective for the company from $61.00 to $88.00 in a research note on Wednesday. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Friday, August 12th. Vetr cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating and set a $40.36 price objective for the company. in a research note on Monday, May 30th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $46.00 price objective (up previously from $36.00) 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. Puma Biotechnology presently has a consensus rating of “Buy” and a consensus price target of $60.94.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Shares of Puma Biotechnology (NYSE:PBYI) traded up 4.888% during mid-day trading on Tuesday, hitting $68.345. 2,073,871 shares of the stock were exchanged. Puma Biotechnology has a 1-year low of $19.74 and a 1-year high of $95.18. The company’s 50-day moving average is $54.73 and its 200-day moving average is $39.31. The firm’s market cap is $2.22 billion.

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/puma-biotechnology-inc-pbyi-given-a-88-00-price-target-by-citigroup-inc-analysts.html

Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.18) by $1.01. Equities research analysts anticipate that Puma Biotechnology will post ($8.12) earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in PBYI. Janus Capital Management LLC boosted its stake in shares of Puma Biotechnology by 30.6% in the second quarter. Janus Capital Management LLC now owns 2,540,331 shares of the biopharmaceutical company’s stock worth $75,675,000 after buying an additional 594,821 shares during the period. EverPoint Asset Management LLC bought a new stake in shares of Puma Biotechnology during the second quarter worth approximately $13,406,000. BlackRock Fund Advisors raised its stake in shares of Puma Biotechnology by 160.7% in the second quarter. BlackRock Fund Advisors now owns 602,071 shares of the biopharmaceutical company’s stock worth $17,936,000 after buying an additional 371,151 shares in the last quarter. State Street Corp raised its stake in shares of Puma Biotechnology by 39.4% in the first quarter. State Street Corp now owns 1,062,291 shares of the biopharmaceutical company’s stock worth $31,200,000 after buying an additional 300,462 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Puma Biotechnology by 22.3% in the second quarter. Point72 Asset Management L.P. now owns 1,415,800 shares of the biopharmaceutical company’s stock worth $42,177,000 after buying an additional 258,100 shares in the last quarter. Institutional investors and hedge funds own 97.53% 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 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.

5 Day Chart for NYSE:PBYI

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.