Puma Biotechnology Inc (NYSE:PBYI) Rating Reiterated by Leerink Swann
Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “outperform” rating reiterated by equities researchers at Leerink Swann in a report issued on Wednesday, The Fly reports. They presently have a $125.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $115.00. Leerink Swann’s target price suggests a potential upside of 33.76% from the stock’s previous close.
A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada set a $88.00 target price on shares of Puma Biotechnology and gave the company a “hold” rating in a research report on Monday. J P Morgan Chase & Co reiterated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday. Citigroup Inc. restated a “buy” rating and set a $114.00 price objective on shares of Puma Biotechnology in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $118.00 price target (up previously from $105.00) on shares of Puma Biotechnology in a research report on Tuesday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $118.00 price objective (up from $90.00) on shares of Puma Biotechnology in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $95.75.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 93.45 on Wednesday. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $97.15. The company has a 50 day moving average of $83.89 and a 200 day moving average of $49.69. The firm’s market cap is $3.45 billion. Puma Biotechnology also saw some unusual options trading activity on Tuesday. Investors bought 12,110 put options on the company. This is an increase of approximately 868% compared to the average daily volume of 1,251 put options.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) EPS for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. On average, equities analysts forecast that Puma Biotechnology will post ($8.40) earnings per share for the current fiscal year.
In related news, major shareholder Adage Capital Partners Gp, L.L sold 507,128 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $87.84, for a total value of $44,546,123.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard Paul Bryce sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $87.10, for a total value of $435,500.00. Following the completion of the transaction, the senior vice president now directly owns 34,237 shares in the company, valued at $2,982,042.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,995,088 shares of company stock valued at $157,988,613 over the last three months. 22.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Camber Capital Management LLC acquired a new stake in Puma Biotechnology during the first quarter worth $24,180,000. Redmile Group LLC boosted its position 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 valued at $64,185,000 after buying an additional 435,274 shares during the last quarter. Emerald Advisers Inc. PA purchased a new position in Puma Biotechnology during the first quarter valued at $14,110,000. Emerald Mutual Fund Advisers Trust purchased a new position in Puma Biotechnology during the first quarter valued at $9,702,000. Finally, Norges Bank purchased a new position in Puma Biotechnology during the fourth quarter valued at $7,693,000. 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.
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