Puma Biotechnology Inc (NYSE:PBYI) Given Average Rating of “Buy” by Analysts
Shares of Puma Biotechnology Inc (NYSE:PBYI) have been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $101.31.
Several brokerages have weighed in on PBYI. Bank of America Corporation reissued a “buy” rating and set a $117.00 price objective (up from $100.00) on shares of Puma Biotechnology in a report on Friday. Leerink Swann reissued an “outperform” rating and set a $125.00 price objective (up from $115.00) on shares of Puma Biotechnology in a report on Wednesday. Citigroup Inc. reissued a “buy” rating and set a $114.00 price objective on shares of Puma Biotechnology in a report on Tuesday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research note on Tuesday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $118.00 price target (up from $90.00) on shares of Puma Biotechnology in a research note on Tuesday.
In related news, SVP Richard Paul Bryce sold 5,000 shares of the firm’s 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 transaction, the senior vice president now owns 34,237 shares in the company, valued at $2,982,042.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $75.38, for a total value of $93,147,066.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,995,088 shares of company stock valued at $157,988,613. 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. Bank of Montreal Can bought a new position in shares of Puma Biotechnology during the first quarter worth approximately $195,000. Alambic Investment Management L.P. bought a new position in shares of Puma Biotechnology during the first quarter worth approximately $201,000. Fox Run Management L.L.C. bought a new position in shares of Puma Biotechnology during the second quarter worth approximately $227,000. Creative Planning boosted its position in shares of Puma Biotechnology by 62.3% in the second quarter. Creative Planning now owns 2,862 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 1,099 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in shares of Puma Biotechnology during the first quarter worth approximately $257,000. Institutional investors own 80.98% of the company’s stock.
Puma Biotechnology (PBYI) traded down 1.16% during trading on Friday, hitting $93.65. 502,329 shares of the stock traded hands. The stock’s market cap is $3.46 billion. The firm’s 50-day moving average is $84.95 and its 200 day moving average is $50.35. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $97.15. Puma Biotechnology also was the recipient of unusually large options trading on Tuesday. Investors acquired 12,110 put options on the stock. This is an increase of 868% compared to the typical 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) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.06) by $0.09. Equities research analysts forecast that Puma Biotechnology will post ($8.43) earnings per share for the current fiscal year.
Puma Biotechnology Company Profile
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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