Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating reissued by J P Morgan Chase & Co in a report issued on Wednesday. They currently have a $131.00 price objective on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price target points to a potential upside of 6.50% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada boosted their price objective on Puma Biotechnology from $60.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 6th. Citigroup Inc. reissued a “buy” rating and set a $105.00 price objective on shares of Puma Biotechnology in a research note on Friday, June 30th. Leerink Swann reissued an “outperform” rating and set a $115.00 price objective on shares of Puma Biotechnology in a research note on Monday, July 10th. Stifel Nicolaus reissued a “buy” rating and set a $105.00 price objective on shares of Puma Biotechnology in a research note on Monday, July 10th. Finally, Zacks Investment Research lowered Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Puma Biotechnology currently has a consensus rating of “Buy” and an average price target of $118.22.

Puma Biotechnology (NYSE:PBYI) traded up 5.13% during mid-day trading on Wednesday, reaching $123.00. The company had a trading volume of 986,944 shares. Puma Biotechnology has a 52 week low of $28.35 and a 52 week high of $124.00. The stock has a 50 day moving average of $99.47 and a 200 day moving average of $72.95. The stock’s market capitalization is $4.58 billion.

Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($0.78). Analysts anticipate that Puma Biotechnology will post ($8.67) earnings per share for the current year.

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In other news, insider Alan H. Auerbach sold 13,175 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the transaction, the insider now owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.48, for a total value of $188,771.04. Following the completion of the transaction, the senior vice president now directly owns 27,246 shares in the company, valued at approximately $2,574,202.08. The disclosure for this sale can be found here. Insiders have sold 45,173 shares of company stock worth $4,738,189 in the last three months. 22.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of 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 purchasing an additional 97 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Puma Biotechnology by 5.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 140 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Puma Biotechnology by 2.8% in the 1st quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock valued at $346,000 after purchasing an additional 249 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Puma Biotechnology by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 33,733 shares of the biopharmaceutical company’s stock valued at $2,948,000 after purchasing an additional 271 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Puma Biotechnology by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,299 shares of the biopharmaceutical company’s stock valued at $1,950,000 after purchasing an additional 437 shares during the last quarter. 80.98% of the stock is currently owned by institutional investors and hedge funds.

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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