Puma Biotechnology Inc (NYSE:PBYI) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, May 16th. Leerink Swann reaffirmed an “outperform” rating and issued a $125.00 price objective (up from $115.00) on shares of Puma Biotechnology in a research note on Wednesday, July 19th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $89.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, May 24th. Credit Suisse Group set a $58.00 price objective on Puma Biotechnology and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, Citigroup Inc. reissued a “buy” rating and set a $105.00 target price on shares of Puma Biotechnology in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $108.90.

Puma Biotechnology (NYSE:PBYI) traded up 2.09% during trading on Friday, hitting $109.65. The stock had a trading volume of 97,610 shares. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $109.85. The company’s market cap is $4.08 billion. The company’s 50 day moving average is $88.12 and its 200-day moving average is $63.32.

Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by $0.78. On average, equities research analysts predict that Puma Biotechnology will post ($8.60) earnings per share for the current year.

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In related news, SVP Richard Paul Bryce sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $2,982,042.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Adage Capital Partners Gp, L.L sold 247,260 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.32, for a total value of $19,859,923.20. The disclosure for this sale can be found here. Insiders sold a total of 267,433 shares of company stock worth $21,732,262 in the last 90 days. 22.70% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its position in Puma Biotechnology by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 5,351 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 97 shares during the period. Ameritas Investment Partners Inc. increased its position in Puma Biotechnology by 5.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 140 shares during the period. Legal & General Group Plc increased its position in Puma Biotechnology by 2.8% during the 1st quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 249 shares during the period. Rhumbline Advisers increased its position in Puma Biotechnology by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 33,733 shares of the biopharmaceutical company’s stock worth $2,948,000 after purchasing an additional 271 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Puma Biotechnology by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,299 shares of the biopharmaceutical company’s stock worth $1,950,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 80.98% of the company’s stock.

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.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

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