Puma Biotechnology Inc. (NYSE:PBYI) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $88.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $61.00. Stifel Nicolaus’ price objective suggests a potential upside of 35.05% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, August 12th. Vetr downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating and set a $40.36 target price for the company. in a research report on Monday, May 30th. Credit Suisse Group AG reissued a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 12th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 target price (up previously from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Puma Biotechnology has an average rating of “Buy” and a consensus price target of $60.94.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Shares of Puma Biotechnology (NYSE:PBYI) opened at 65.16 on Wednesday. Puma Biotechnology has a 12 month low of $19.74 and a 12 month high of $95.18. The firm’s market cap is $2.12 billion. The company has a 50-day moving average of $54.72 and a 200-day moving average of $39.31.

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Puma Biotechnology (NYSE:PBYI) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.18) by $1.01. Equities analysts forecast that Puma Biotechnology will post ($8.12) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PBYI. Norges Bank purchased a new position in Puma Biotechnology during the fourth quarter worth about $16,219,000. Fox Run Management L.L.C. purchased a new position in Puma Biotechnology during the first quarter worth about $385,000. Parametrica Management Ltd purchased a new position in Puma Biotechnology during the first quarter worth about $244,000. BlackRock Group LTD raised 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 last quarter. Finally, BlackRock Institutional Trust Company N.A. raised 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 last quarter. 97.53% of the stock is owned by hedge funds and other institutional investors.

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

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