Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “overweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $89.00 price objective on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 18.75% from the company’s previous close.

A number of other research firms also recently weighed in on PBYI. Zacks Investment Research raised Puma Biotechnology from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday. Credit Suisse Group AG set a $58.00 price target on Puma Biotechnology and gave the stock a “buy” rating in a research note on Monday. Cowen and Company reaffirmed a “market perform” rating on shares of Puma Biotechnology in a research note on Monday. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research note on Monday. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $65.93.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Puma Biotechnology (NYSE:PBYI) traded up 29.67% on Wednesday, hitting $74.95. 11,946,778 shares of the stock were exchanged. The company’s 50-day moving average is $37.99 and its 200-day moving average is $37.68. The company’s market cap is $2.77 billion. Puma Biotechnology has a 52 week low of $27.64 and a 52 week high of $75.10. Puma Biotechnology also was the recipient of unusually large options trading on Monday. Investors purchased 5,439 put options on the stock. This is an increase of 515% compared to the typical volume of 884 put options.

Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.06) by $0.09. On average, analysts predict that Puma Biotechnology will post ($8.12) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Puma Biotechnology’s (PBYI) Overweight Rating Reiterated at JPMorgan Chase & Co.” was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/05/24/puma-biotechnologys-pbyi-overweight-rating-reiterated-at-jpmorgan-chase-co.html.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Credit Suisse AG raised its stake in Puma Biotechnology by 97.9% in the first quarter. Credit Suisse AG now owns 82,644 shares of the biopharmaceutical company’s stock worth $3,075,000 after buying an additional 40,890 shares during the period. Redmile Group LLC raised its stake in Puma Biotechnology by 33.7% in the first quarter. Redmile Group LLC now owns 1,725,414 shares of the biopharmaceutical company’s stock worth $64,185,000 after buying an additional 435,274 shares during the period. Endurant Capital Management LP acquired a new stake in Puma Biotechnology during the first quarter worth about $1,101,000. Boxer Capital LLC acquired a new stake in Puma Biotechnology during the first quarter worth about $3,720,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in Puma Biotechnology during the first quarter worth about $335,000. 80.98% 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 development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

12 Month 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.