Investment analysts at Barclays PLC initiated coverage on shares of Puma Biotechnology Inc (NYSE:PBYI) in a research report issued on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $103.00 price target on the biopharmaceutical company’s stock. Barclays PLC’s target price points to a potential downside of 1.20% from the company’s current price.

PBYI has been the subject of several other reports. Stifel Nicolaus reiterated a “buy” rating and set a $105.00 price target on shares of Puma Biotechnology in a report on Monday, June 5th. Leerink Swann restated an “outperform” rating and issued a $125.00 target price on shares of Puma Biotechnology in a report on Wednesday, August 2nd. Zacks Investment Research lowered Puma Biotechnology from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Credit Suisse Group boosted their target price on Puma Biotechnology from $58.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada set a $40.00 target price on Puma Biotechnology and gave the stock a “hold” rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $108.90.

Puma Biotechnology (NYSE:PBYI) traded down 2.93% during mid-day trading on Wednesday, reaching $104.25. 850,226 shares of the company were exchanged. The company’s market cap is $3.88 billion. The stock’s 50-day moving average is $88.39 and its 200-day moving average is $63.61. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $109.85.

Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.78. Equities analysts expect that Puma Biotechnology will post ($8.60) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Puma Biotechnology Inc (PBYI) Now Covered by Analysts at Barclays PLC” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/09/10/puma-biotechnology-inc-pbyi-now-covered-by-analysts-at-barclays-plc.html.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 5,000 shares of Puma Biotechnology stock in a transaction that occurred 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 directly owns 34,237 shares of the company’s stock, valued at approximately $2,982,042.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Adage Capital Partners Gp, L.L sold 247,260 shares of Puma Biotechnology stock in a transaction that occurred on Monday, June 12th. The stock was 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. Over the last ninety days, insiders sold 282,433 shares of company stock worth $23,233,612. Company insiders own 22.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PBYI. Teachers Advisors LLC increased its position in Puma Biotechnology by 5.7% in the 4th quarter. Teachers Advisors LLC now owns 142,373 shares of the biopharmaceutical company’s stock worth $4,371,000 after buying an additional 7,719 shares during the period. Bank of Montreal Can bought a new position in Puma Biotechnology in the 1st quarter worth approximately $195,000. Wells Fargo & Company MN increased its position in Puma Biotechnology by 10.0% in the 1st quarter. Wells Fargo & Company MN now owns 24,151 shares of the biopharmaceutical company’s stock worth $899,000 after buying an additional 2,201 shares during the period. Canada Pension Plan Investment Board increased its position in Puma Biotechnology by 101.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 43,000 shares of the biopharmaceutical company’s stock worth $1,600,000 after buying an additional 21,700 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Puma Biotechnology in the 1st quarter worth approximately $3,264,000. 80.98% of the stock is currently owned by institutional investors.

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)

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.