Puma Biotechnology Inc (NYSE:PBYI) has been assigned a $105.00 price target by research analysts at J P Morgan Chase & Co in a report released on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 32.08% from the stock’s previous close.

PBYI has been the subject of several other research reports. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, May 16th. Stifel Nicolaus restated a “buy” rating and set a $88.00 target price on shares of Puma Biotechnology in a research report on Wednesday, April 19th. Cowen and Company restated a “market perform” rating on shares of Puma Biotechnology in a research report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and set a $105.00 target price on shares of Puma Biotechnology in a research report on Friday, June 30th. Finally, Leerink Swann restated an “outperform” rating and set a $115.00 target price on shares of Puma Biotechnology in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $103.35.

Puma Biotechnology (NYSE:PBYI) opened at 79.50 on Wednesday. The firm’s 50-day moving average price is $89.05 and its 200-day moving average price is $55.88. The company’s market cap is $2.94 billion. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $98.85.

Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.06) by $0.09. On average, equities analysts anticipate that Puma Biotechnology will post ($8.53) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This article was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/10/puma-biotechnology-inc-pbyi-given-a-105-00-price-target-at-j-p-morgan-chase-co.html.

In other news, SVP Richard Paul Bryce sold 5,000 shares of Puma Biotechnology stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total transaction of $435,500.00. Following the completion of the sale, the senior vice president now owns 34,237 shares of the company’s stock, valued at $2,982,042.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alan H. Auerbach sold 13,175 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total transaction of $1,248,067.75. Following the sale, the insider now directly owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. Insiders have sold 2,010,261 shares of company stock valued at $159,425,452 in the last ninety days. Insiders own 22.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of PBYI. FMR LLC increased its stake in Puma Biotechnology by 2.4% in the first quarter. FMR LLC now owns 3,540,729 shares of the biopharmaceutical company’s stock valued at $131,715,000 after buying an additional 81,410 shares in the last quarter. Wellington Management Group LLP increased its stake in Puma Biotechnology by 7.2% in the first quarter. Wellington Management Group LLP now owns 2,539,350 shares of the biopharmaceutical company’s stock valued at $94,464,000 after buying an additional 170,812 shares in the last quarter. Vanguard Group Inc. increased its stake in Puma Biotechnology by 4.4% in the first quarter. Vanguard Group Inc. now owns 2,428,909 shares of the biopharmaceutical company’s stock valued at $90,355,000 after buying an additional 101,722 shares in the last quarter. Redmile Group LLC increased its stake in Puma Biotechnology by 33.7% in the first quarter. Redmile Group LLC now owns 1,725,414 shares of the biopharmaceutical company’s stock valued at $64,185,000 after buying an additional 435,274 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Puma Biotechnology by 22.8% in the first quarter. Schroder Investment Management Group now owns 803,926 shares of the biopharmaceutical company’s stock valued at $30,147,000 after buying an additional 149,205 shares in the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.

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 development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

Receive News & Stock Ratings for Puma Biotechnology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology Inc and related stocks with our FREE daily email newsletter.