Puma Biotechnology (NASDAQ:PBYI) had its price objective decreased by Royal Bank of Canada to $77.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.08% from the stock’s current price.
Other analysts have also issued research reports about the company. Credit Suisse Group reissued an “outperform” rating and set a $136.00 price target on shares of Puma Biotechnology in a report on Wednesday, September 27th. JPMorgan Chase & Co. lowered their price objective on Puma Biotechnology from $138.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup restated a “buy” rating and issued a $164.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, January 3rd. ValuEngine downgraded Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Barclays restated a “buy” rating and issued a $122.00 price objective (up from $103.00) on shares of Puma Biotechnology in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Puma Biotechnology currently has a consensus rating of “Buy” and an average price target of $110.56.
Puma Biotechnology (NASDAQ:PBYI) traded up $0.60 during mid-day trading on Wednesday, hitting $68.70. The stock had a trading volume of 1,262,627 shares, compared to its average volume of 1,108,942. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $136.90. The stock has a market capitalization of $2,555.76, a PE ratio of -8.40 and a beta of 0.72.
In other news, insider Charles R. Eyler sold 1,322 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was 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 SEC, which is accessible through this link. Also, SVP Richard Paul Bryce sold 1,860 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total value of $172,515.00. Following the transaction, the senior vice president now directly owns 25,379 shares in the company, valued at approximately $2,353,902.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,874 shares of company stock worth $1,303,616. Insiders own 21.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Puma Biotechnology by 137.6% during the 4th quarter. SG Americas Securities LLC now owns 6,258 shares of the biopharmaceutical company’s stock valued at $619,000 after purchasing an additional 3,624 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Puma Biotechnology by 5.4% during the 4th quarter. Fisher Asset Management LLC now owns 16,386 shares of the biopharmaceutical company’s stock valued at $1,620,000 after acquiring an additional 841 shares during the period. Rice Hall James & Associates LLC grew its position in shares of Puma Biotechnology by 355.7% during the 4th quarter. Rice Hall James & Associates LLC now owns 106,272 shares of the biopharmaceutical company’s stock valued at $10,505,000 after acquiring an additional 82,953 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Puma Biotechnology in the 4th quarter worth about $288,000. Finally, Strs Ohio boosted its holdings in Puma Biotechnology by 425.9% in the 4th quarter. Strs Ohio now owns 14,200 shares of the biopharmaceutical company’s stock worth $1,403,000 after buying an additional 11,500 shares during the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.
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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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