Puma Biotechnology Inc. (NYSE:PBYI) has been assigned a $89.00 target price by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Monday. The brokerage currently has a a “buy” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 121.95% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Puma Biotechnology in a research note on Sunday, July 24th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 target price (up previously from $36.00) on shares of Puma Biotechnology in a research note on Sunday, July 24th. Vetr cut shares of Puma Biotechnology from a “strong-buy” rating to a “strong sell” rating and set a $39.50 target price on the stock. in a research note on Wednesday, August 10th. Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Friday, August 12th. Finally, Citigroup Inc. set a $88.00 target price on shares of Puma Biotechnology and gave the stock a “buy” rating in a research note on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $68.56.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Puma Biotechnology (NYSE:PBYI) opened at 40.10 on Monday. The stock’s market cap is $1.48 billion. Puma Biotechnology has a 1-year low of $19.74 and a 1-year high of $82.81. The company has a 50-day moving average of $50.87 and a 200 day moving average of $43.85.

A number of hedge funds have recently modified their holdings of PBYI. Northern Capital Management LLC raised its stake in shares of Puma Biotechnology by 1.2% in the second quarter. Northern Capital Management LLC now owns 16,288 shares of the biopharmaceutical company’s stock valued at $485,000 after buying an additional 190 shares during the period. Profund Advisors LLC raised its stake in shares of Puma Biotechnology by 1.6% in the second quarter. Profund Advisors LLC now owns 12,706 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 202 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Puma Biotechnology by 2.4% in the third quarter. UBS Asset Management Americas Inc. now owns 12,891 shares of the biopharmaceutical company’s stock valued at $864,000 after buying an additional 300 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Puma Biotechnology by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 465 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Puma Biotechnology by 1.0% in the third quarter. California State Teachers Retirement System now owns 52,275 shares of the biopharmaceutical company’s stock valued at $3,505,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

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 global development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), which the Company is developing for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation; PB272 (neratinib (intravenous)), which the Company is developing for the treatment of patients with advanced cancer, and PB357, which is an orally administered agent.

5 Day Chart for NYSE:PBYI

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