Puma Biotechnology Inc. (NYSE:PBYI)‘s stock had its “sector perform” rating restated by investment analysts at RBC Capital Markets in a research note issued on Wednesday.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. set a $89.00 price objective on shares of Puma Biotechnology and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Citigroup Inc. set a $88.00 price objective on shares of Puma Biotechnology and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Stifel Nicolaus upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and raised their price target for the company from $61.00 to $88.00 in a research note on Wednesday, September 21st. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Friday, August 12th. Finally, Cowen and Company restated a “market perform” rating on shares of Puma Biotechnology in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Puma Biotechnology has a consensus rating of “Buy” and an average target price of $68.56.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Shares of Puma Biotechnology (NYSE:PBYI) opened at 42.50 on Wednesday. The company has a 50-day moving average price of $48.65 and a 200-day moving average price of $43.91. Puma Biotechnology has a 1-year low of $19.74 and a 1-year high of $82.81. The stock’s market cap is $1.56 billion.

Several hedge funds and other institutional investors have recently bought and sold shares of PBYI. Teacher Retirement System of Texas raised its position in 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 worth $115,000 after buying an additional 465 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Puma Biotechnology by 112.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,133 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 1,127 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Puma Biotechnology by 253.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the biopharmaceutical company’s stock worth $163,000 after buying an additional 1,740 shares in the last quarter. Quantbot Technologies LP bought a new position in Puma Biotechnology during the second quarter worth approximately $183,000. Finally, Legal & General Group Plc raised its position in Puma Biotechnology by 142.4% in the second quarter. Legal & General Group Plc now owns 6,142 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 3,608 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

About Puma Biotechnology

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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