Puma Biotechnology Inc (PBYI) Receives Average Rating of “Buy” from Analysts
Puma Biotechnology Inc (NYSE:PBYI) has received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $112.13.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. J P Morgan Chase & Co reissued a “buy” rating on shares of Puma Biotechnology in a research note on Tuesday, August 1st. Bank of America Corporation reissued a “buy” rating and issued a $117.00 price target (up from $100.00) on shares of Puma Biotechnology in a research note on Friday, July 21st. Cowen and Company reissued an “outperform” rating and issued a $120.00 price target (up from $91.00) on shares of Puma Biotechnology in a research note on Saturday, July 22nd. Finally, Leerink Swann restated an “outperform” rating and set a $125.00 price objective (up from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th.
Shares of Puma Biotechnology (NYSE PBYI) traded down 0.81% during trading on Tuesday, reaching $79.40. 265,527 shares of the company traded hands. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $98.85. The stock’s market capitalization is $2.94 billion. The firm has a 50 day moving average of $88.37 and a 200 day moving average of $57.02.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78. On average, equities analysts predict that Puma Biotechnology will post ($8.62) EPS for the current year.
In other Puma Biotechnology news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of Puma Biotechnology stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $75.38, for a total transaction of $93,147,066.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard Paul Bryce sold 5,000 shares of Puma Biotechnology stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $87.10, for a total transaction of $435,500.00. Following the sale, the senior vice president now owns 34,237 shares of the company’s stock, valued at $2,982,042.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,010,261 shares of company stock valued at $159,425,452. 22.70% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in PBYI. Norges Bank bought a new stake in shares of Puma Biotechnology during the fourth quarter worth $7,693,000. Emerald Advisers Inc. PA bought a new stake in shares of Puma Biotechnology during the first quarter worth $14,110,000. BB Biotech AG boosted its stake in shares of Puma Biotechnology by 1.5% in the first quarter. BB Biotech AG now owns 245,616 shares of the biopharmaceutical company’s stock worth $9,137,000 after buying an additional 3,625 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Puma Biotechnology during the first quarter worth $7,682,000. Finally, American International Group Inc. boosted its stake in shares of Puma Biotechnology by 19.2% in the first quarter. American International Group Inc. now owns 16,931 shares of the biopharmaceutical company’s stock worth $630,000 after buying an additional 2,733 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.
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.
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.