Puma Biotechnology Inc. (NYSE:PBYI) has been given a $88.00 target price by equities researchers 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 objective would suggest a potential upside of 35.05% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Friday, August 12th. Vetr raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating and set a $42.54 target price on the stock in a report on Monday, June 6th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Puma Biotechnology in a report on Tuesday, July 12th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 target price (up from $36.00) on shares of Puma Biotechnology in a report on Sunday, July 24th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Puma Biotechnology in a report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $60.94.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Puma Biotechnology (NYSE:PBYI) traded up 5.59% on Tuesday, hitting $68.80. The company had a trading volume of 2,334,634 shares. The company’s market capitalization is $2.24 billion. Puma Biotechnology has a one year low of $19.74 and a one year high of $95.18. The stock’s 50-day moving average price is $54.72 and its 200 day moving average price is $39.31.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Puma Biotechnology during the fourth quarter worth $16,219,000. Fox Run Management L.L.C. purchased a new position in Puma Biotechnology during the first quarter worth $385,000. Parametrica Management Ltd purchased a new position in Puma Biotechnology during the first quarter worth $244,000. BlackRock Group LTD increased its position in 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 during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in 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 during the period. 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.

5 Day Chart for NYSE:PBYI

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