BidaskClub upgraded shares of Puma Biotechnology Inc (NYSE:PBYI) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Puma Biotechnology from a hold rating to a buy rating and set a $36.00 target price on the stock in a research note on Tuesday, May 16th. Leerink Swann restated an outperform rating and set a $125.00 target price (up from $115.00) on shares of Puma Biotechnology in a research note on Wednesday, July 19th. J P Morgan Chase & Co restated an overweight rating and set a $89.00 target price on shares of Puma Biotechnology in a research note on Wednesday, May 24th. Credit Suisse Group set a $58.00 target price on shares of Puma Biotechnology and gave the stock a buy rating in a research note on Monday, May 22nd. Finally, Citigroup Inc. restated a buy rating and set a $105.00 target price on shares of Puma Biotechnology in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $108.90.

Shares of Puma Biotechnology (NYSE:PBYI) opened at 104.25 on Friday. The company’s market capitalization is $3.88 billion. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $109.85. The stock has a 50 day moving average of $88.39 and a 200-day moving average of $63.61.

Puma Biotechnology (NYSE:PBYI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.78. Analysts predict that Puma Biotechnology will post ($8.60) earnings per share for the current fiscal year.

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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total value of $435,500.00. Following the transaction, the senior vice president now directly owns 34,237 shares in the company, valued at $2,982,042.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of the 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 completion of the transaction, the insider now owns 4,170,623 shares in the company, valued at $395,083,116.79. The disclosure for this sale can be found here. Insiders sold 35,173 shares of company stock worth $3,373,689 over the last quarter. 22.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PBYI. Bank of Montreal Can purchased a new position in Puma Biotechnology in the first quarter valued at approximately $195,000. Wells Fargo & Company MN increased its stake in Puma Biotechnology by 10.0% in the first quarter. Wells Fargo & Company MN now owns 24,151 shares of the biopharmaceutical company’s stock valued at $899,000 after purchasing an additional 2,201 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Puma Biotechnology by 101.9% in the first quarter. Canada Pension Plan Investment Board now owns 43,000 shares of the biopharmaceutical company’s stock valued at $1,600,000 after purchasing an additional 21,700 shares during the last quarter. Suntrust Banks Inc. increased its stake in Puma Biotechnology by 98.1% in the first quarter. Suntrust Banks Inc. now owns 28,314 shares of the biopharmaceutical company’s stock valued at $1,052,000 after purchasing an additional 14,023 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Puma Biotechnology by 999.1% in the first quarter. BNP Paribas Arbitrage SA now owns 23,071 shares of the biopharmaceutical company’s stock valued at $858,000 after purchasing an additional 20,972 shares during the last quarter. Institutional investors own 80.98% 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 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)

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