Citigroup Reiterates “Buy” Rating for Puma Biotechnology (PBYI)
Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by stock analysts at Citigroup in a report issued on Wednesday. They currently have a $164.00 price objective on the biopharmaceutical company’s stock. Citigroup’s target price would suggest a potential upside of 77.01% from the stock’s current price.
A number of other analysts have also recently commented on PBYI. Barclays started coverage on shares of Puma Biotechnology in a report on Wednesday, September 6th. They set an “overweight” rating and a $103.00 target price for the company. BidaskClub raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Credit Suisse Group upped their target price on shares of Puma Biotechnology from $118.00 to $136.00 and gave the company an “outperform” rating in a report on Monday, September 11th. Stifel Nicolaus upped their target price on shares of Puma Biotechnology from $110.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $131.00 target price on shares of Puma Biotechnology in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $130.67.
Shares of Puma Biotechnology (NASDAQ:PBYI) traded down $6.20 during trading on Wednesday, reaching $92.65. 985,800 shares of the company were exchanged, compared to its average volume of 758,500. The company has a market capitalization of $3,540.00, a P/E ratio of -11.31 and a beta of 0.72. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90.
In related news, insider Charles R. Eyler sold 1,322 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $105.46, for a total transaction of $139,418.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PBYI. Barclays PLC grew its stake in Puma Biotechnology by 453.2% during the first quarter. Barclays PLC now owns 3,961 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 3,245 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Puma Biotechnology by 13.7% during the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 465 shares during the last quarter. Strs Ohio bought a new position in Puma Biotechnology during the second quarter valued at $122,000. BNP Paribas Arbitrage SA lifted its position in Puma Biotechnology by 112.0% during the third quarter. BNP Paribas Arbitrage SA now owns 2,133 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Puma Biotechnology during the second quarter valued at $146,000. 96.00% of the stock is 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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