Investment Analysts’ Weekly Ratings Updates for Puma Biotechnology (PBYI)

A number of firms have modified their ratings and price targets on shares of Puma Biotechnology (NASDAQ: PBYI) recently:

  • 1/26/2018 – Puma Biotechnology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Puma’s lead drug, Nerlynx (neratinib), was approved by the FDA in July 2017 for treatment of advanced breast cancers. Subsequently, in early August, the company announced the drug’s commercial availability under the brand name, Nerlynx. The FDA approval was a huge boost to the company, given the drug’s immense commercial potential in the target market. Nerlynx is also under review in the EU for the same indication. However, Puma has no approved product in its portfolio other than Nerlynx at this moment. Moreover, due to lack of a strong pipeline, the company is totally dependent on Nerlynx for growth. Hence, any kind of regulatory setback for Nerlynx could affect the company’s growth prospects. Shares of the company have outperformed the industry in the past one year.”
  • 1/26/2018 – Puma Biotechnology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/24/2018 – Puma Biotechnology had its price target lowered by analysts at Bank of America Corp from $135.00 to $115.00. They now have a “buy” rating on the stock.
  • 1/24/2018 – Puma Biotechnology had its price target lowered by analysts at Citigroup Inc from $164.00 to $146.00. They now have a “buy” rating on the stock.
  • 1/24/2018 – Puma Biotechnology had its price target lowered by analysts at Credit Suisse Group AG from $147.00 to $106.00. They now have an “outperform” rating on the stock.
  • 1/24/2018 – Puma Biotechnology had its price target lowered by analysts at Royal Bank of Canada to $77.00. They now have a “sector perform” rating on the stock.
  • 1/24/2018 – Puma Biotechnology had its price target lowered by analysts at JPMorgan Chase & Co. from $138.00 to $91.00. They now have a “buy” rating on the stock.
  • 1/24/2018 – Puma Biotechnology was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating. They now have a $68.00 price target on the stock, down previously from $123.00.
  • 1/22/2018 – Puma Biotechnology was given a new $147.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 1/15/2018 – Puma Biotechnology was given a new $142.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 1/15/2018 – Puma Biotechnology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Puma has no approved product in its portfolio other than Nerlynx at this moment which was approved by FDA in July last year for treatment of advanced breast cancers. Moreover, due to lack of a strong pipeline, the company is totally dependent on Nerlynx for growth. Hence, any kind of regulatory setback for Nerlynx could affect the company’s growth prospects. Also, though the HER2-positive breast cancer market provides immense commercial potential, the space is quite crowded with the presence of big players. However, we are encouraged by the company’s effort to expand Nerlynx’s label for other cancers including NSCLC and other tumor types. Nonetheless, Nerlynx is also under review in the EU for treatment of breast cancer. Shares of the company have outperformed the industry in the last one year.”
  • 1/3/2018 – Puma Biotechnology had its “buy” rating reaffirmed by analysts at Citigroup Inc. They now have a $164.00 price target on the stock.
  • 1/3/2018 – Puma Biotechnology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.

Puma Biotechnology Inc (NASDAQ:PBYI) opened at $60.85 on Monday. The company has a market capitalization of $2,283.70, a P/E ratio of -7.44 and a beta of 0.18. Puma Biotechnology Inc has a 12-month low of $28.35 and a 12-month high of $136.90.

In other news, insider Alan H. Auerbach sold 10,692 shares of Puma Biotechnology stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $991,683.00. Following the completion of the transaction, the insider now owns 4,155,931 shares in the company, valued at approximately $385,462,600.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles R. Eyler sold 1,322 shares of Puma Biotechnology stock in a transaction that occurred on Friday, December 1st. The stock was 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. In the last quarter, insiders sold 13,874 shares of company stock valued at $1,303,616. Insiders own 21.10% of the company’s stock.

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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