Credit Suisse Group AG Increases Puma Biotechnology Inc. (PBYI) Price Target to $111.00
Puma Biotechnology Inc. (NYSE:PBYI) had its price target lifted by stock analysts at Credit Suisse Group AG from $54.00 to $111.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price target indicates a potential upside of 63.31% from the company’s previous close.
Several other research analysts have also recently weighed in on PBYI. Vetr cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating and set a $40.36 price objective for the company. in a research report on Monday, May 30th. Zacks Investment Research cut Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Puma Biotechnology in a research report on Sunday, July 24th. RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price target (up from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. Finally, Citigroup Inc. set a $88.00 price target on Puma Biotechnology and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.56.
Puma Biotechnology (NYSE:PBYI) opened at 67.97 on Thursday. The stock’s market capitalization is $2.21 billion. Puma Biotechnology has a 1-year low of $19.74 and a 1-year high of $94.93. The stock’s 50 day moving average price is $55.30 and its 200 day moving average price is $39.51.
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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, topping the consensus estimate of ($2.18) by $1.01. Equities research analysts forecast that Puma Biotechnology will post ($8.12) earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in PBYI. Teacher Retirement System of Texas boosted its stake in Puma Biotechnology by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 465 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Puma Biotechnology during the second quarter worth about $183,000. Legal & General Group Plc boosted its stake in Puma Biotechnology by 142.4% in the second quarter. Legal & General Group Plc now owns 6,142 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 3,608 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Puma Biotechnology by 71.8% in the first quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the biopharmaceutical company’s stock worth $197,000 after buying an additional 2,800 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in Puma Biotechnology during the second quarter worth about $232,000. 97.53% of the stock is owned by 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.
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