Puma Biotechnology (NASDAQ:PBYI) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $138.00 to $91.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 32.46% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Leerink Swann increased their price objective on Puma Biotechnology to $140.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Credit Suisse Group set a $142.00 price objective on Puma Biotechnology and gave the company a “buy” rating in a research report on Monday, January 15th. BidaskClub upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. Finally, Stifel Nicolaus increased their price objective on Puma Biotechnology from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $110.56.
Puma Biotechnology (PBYI) traded up $0.60 on Wednesday, reaching $68.70. The company’s stock had a trading volume of 1,262,627 shares, compared to its average volume of 1,108,942. The firm has a market capitalization of $2,555.76, a P/E ratio of -8.40 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 other Puma Biotechnology news, SVP Richard Paul Bryce sold 1,860 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total transaction of $172,515.00. Following the transaction, the senior vice president now directly owns 25,379 shares of the company’s stock, valued at $2,353,902.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles R. Eyler sold 1,322 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $105.46, for a total transaction of $139,418.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,874 shares of company stock worth $1,303,616. Company insiders own 21.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund increased its position in Puma Biotechnology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 32,247 shares of the biopharmaceutical company’s stock worth $2,818,000 after buying an additional 1,446 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Puma Biotechnology by 26.0% in the third quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock valued at $110,627,000 after buying an additional 190,500 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Puma Biotechnology by 9.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 135,167 shares of the biopharmaceutical company’s stock valued at $16,187,000 after buying an additional 11,787 shares during the period. BlackRock Inc. lifted its stake in shares of Puma Biotechnology by 5.0% in the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after buying an additional 86,924 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Puma Biotechnology in the second quarter valued at about $302,000. 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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