Stifel Nicolaus Upgrades Puma Biotechnology Inc. (PBYI) to Buy
Puma Biotechnology Inc. (NYSE:PBYI) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Wednesday.
Other equities research analysts have also recently issued research reports about the stock. Vetr cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating and set a $40.36 price target for the company. in a research report on Monday, May 30th. Zacks Investment Research cut shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Credit Suisse Group AG reiterated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 12th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $46.00 price target (up previously from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. 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 company. The company has a consensus rating of “Buy” and an average target price of $57.07.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 65.16 on Wednesday. The stock’s market cap is $2.12 billion. Puma Biotechnology has a 12 month low of $19.74 and a 12 month high of $95.18. 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 posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($2.18) by $1.01. Equities research analysts expect that Puma Biotechnology will post ($8.12) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC raised its position in 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 valued at $75,675,000 after buying an additional 594,821 shares during the last quarter. EverPoint Asset Management LLC purchased a new position in Puma Biotechnology during the second quarter valued at $13,406,000. BlackRock Fund Advisors raised its position in Puma Biotechnology by 160.7% in the second quarter. BlackRock Fund Advisors now owns 602,071 shares of the biopharmaceutical company’s stock valued at $17,936,000 after buying an additional 371,151 shares during the last quarter. State Street Corp raised its position in Puma Biotechnology by 39.4% in the first quarter. State Street Corp now owns 1,062,291 shares of the biopharmaceutical company’s stock valued at $31,200,000 after buying an additional 300,462 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in 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 valued at $42,177,000 after buying an additional 258,100 shares during the last quarter. 97.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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