Puma Biotechnology’s (PBYI) Buy Rating Reiterated at Citigroup Inc.
Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $156.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $114.00. Citigroup Inc.’s price target would indicate a potential upside of 25.55% from the company’s current price.
Several other brokerages have also recently issued reports on PBYI. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 target price (down previously from $118.00) on shares of Puma Biotechnology in a research report on Thursday, August 10th. Zacks Investment Research cut Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Credit Suisse Group reissued an “outperform” rating and issued a $136.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, September 27th. Finally, BidaskClub cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Puma Biotechnology currently has a consensus rating of “Buy” and a consensus price target of $122.89.
Puma Biotechnology (PBYI) traded up 1.02% during midday trading on Thursday, hitting $124.25. The stock had a trading volume of 778,662 shares. The stock’s 50-day moving average is $99.47 and its 200-day moving average is $72.95. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $125.00. The stock’s market capitalization is $4.62 billion.
Puma Biotechnology (NYSE:PBYI) last announced its 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). On average, equities research analysts anticipate that Puma Biotechnology will post ($8.62) EPS for the current fiscal year.
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 transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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. In the last three months, insiders sold 45,173 shares of company stock worth $4,738,189. Insiders own 22.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at $122,000. Cubist Systematic Strategies LLC purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at $146,000. Kazazian Asset Management LLC purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at $209,000. Teacher Retirement System of Texas purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at $211,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Puma Biotechnology by 5.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock valued at $220,000 after buying an additional 140 shares during the last quarter. 80.98% of the stock is currently owned by hedge funds and other 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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