Puma Biotechnology Inc (PBYI) Receives Consensus Rating of “Buy” from Analysts
Shares of Puma Biotechnology Inc (NYSE:PBYI) have earned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $115.33.
PBYI has been the topic of a number of recent research reports. Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Puma Biotechnology in a research 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. Royal Bank Of Canada lifted their target price on Puma Biotechnology from $60.00 to $88.00 and gave the company a “sector perform” rating in a report on Tuesday, June 6th. J P Morgan Chase & Co reissued an “overweight” rating and set a $89.00 target price on shares of Puma Biotechnology in a research note on Tuesday, June 6th. Finally, Bank of America Corporation reissued a “buy” rating and set a $117.00 target price (up from $100.00) on shares of Puma Biotechnology in a research note on Friday, July 21st.
Puma Biotechnology (NYSE:PBYI) traded up 2.52% during mid-day trading on Wednesday, reaching $119.95. 326,246 shares of the company were exchanged. The stock’s 50-day moving average price is $98.26 and its 200-day moving average price is $72.59. The stock’s market capitalization is $4.46 billion. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $122.40.
Puma Biotechnology (NYSE:PBYI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.78). On average, equities research analysts anticipate that Puma Biotechnology will post ($8.67) EPS for the current fiscal year.
In related news, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was 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 of the company’s stock, valued at $2,574,202.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total value of $1,248,067.75. Following the completion of the transaction, the insider now directly owns 4,170,623 shares of the company’s stock, valued at $395,083,116.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,173 shares of company stock worth $4,738,189. 22.70% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas purchased a new stake in shares of Puma Biotechnology during the 2nd quarter worth approximately $211,000. Renaissance Technologies LLC acquired a new position in shares of Puma Biotechnology in the 1st quarter valued at $7,682,000. American International Group Inc. boosted its holdings in shares of Puma Biotechnology by 19.2% in the 1st quarter. American International Group Inc. now owns 16,931 shares of the biopharmaceutical company’s stock valued at $630,000 after buying an additional 2,733 shares in the last quarter. Endurant Capital Management LP acquired a new position in shares of Puma Biotechnology in the 1st quarter valued at $1,101,000. Finally, Swiss National Bank boosted its holdings in shares of Puma Biotechnology by 2.1% in the 1st quarter. Swiss National Bank now owns 54,730 shares of the biopharmaceutical company’s stock valued at $2,036,000 after buying an additional 1,100 shares in the last quarter. 80.98% of the stock is currently owned by institutional investors.
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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.
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