Puma Biotechnology Inc (PBYI) Receives Average Recommendation of “Buy” from Analysts

Shares of Puma Biotechnology Inc (NASDAQ:PBYI) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $110.56.

PBYI has been the subject of a number of recent research reports. Barclays reiterated a “buy” rating and set a $122.00 price objective (up previously from $103.00) on shares of Puma Biotechnology in a research report on Friday, November 10th. Citigroup increased their price objective on Puma Biotechnology from $156.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Bank of America reiterated a “buy” rating and set a $135.00 price objective (up previously from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. BidaskClub downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Credit Suisse Group set a $147.00 price objective on Puma Biotechnology and gave the company a “buy” rating in a research report on Monday, January 22nd.

In other news, SVP Richard Paul Bryce sold 1,860 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $172,515.00. Following the completion of the sale, the senior vice president now owns 25,379 shares in the company, valued at $2,353,902.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles R. Eyler sold 1,322 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $105.46, for a total value of $139,418.12. The disclosure for this sale can be found here. Insiders sold 13,874 shares of company stock valued at $1,303,616 in the last 90 days. Corporate insiders own 21.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Puma Biotechnology during the second quarter worth $146,000. Sei Investments Co. bought a new position in Puma Biotechnology during the third quarter worth $256,000. Ameritas Investment Partners Inc. boosted its stake in Puma Biotechnology by 5.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 140 shares in the last quarter. ProShare Advisors LLC bought a new position in Puma Biotechnology during the second quarter worth $222,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Puma Biotechnology during the third quarter worth $306,000. Institutional investors own 96.30% of the company’s stock.

Shares of Puma Biotechnology (NASDAQ:PBYI) traded up $1.22 during trading on Tuesday, reaching $62.32. The company had a trading volume of 327,434 shares, compared to its average volume of 1,159,980. The company has a market capitalization of $2,340.00, a price-to-earnings ratio of -7.69 and a beta of 0.18. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.50) by $0.43. The firm had revenue of $6.10 million during the quarter, compared to the consensus estimate of $3.78 million. During the same period in the prior year, the firm earned ($1.11) earnings per share. equities research analysts predict that Puma Biotechnology will post -8.12 EPS for the current fiscal year.

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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.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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