Puma Biotechnology Inc (PBYI) Now Covered by Analysts at Barclays PLC
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.
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.
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