Puma Biotechnology Inc (NYSE:PBYI) had its target price raised by equities research analysts at Credit Suisse Group from $118.00 to $136.00 in a research report issued on Monday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 30.46% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, May 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price target on shares of Puma Biotechnology in a research note on Monday, May 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $88.00 price target on shares of Puma Biotechnology in a research note on Monday, May 22nd. Cowen and Company reiterated a “market perform” rating on shares of Puma Biotechnology in a research note on Monday, May 22nd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $89.00 price target on shares of Puma Biotechnology in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Puma Biotechnology presently has an average rating of “Buy” and a consensus price target of $110.70.

Puma Biotechnology (PBYI) traded down 0.4795% on Monday, reaching $103.7501. The company had a trading volume of 177,485 shares. The stock’s market capitalization is $3.86 billion. The firm has a 50 day moving average price of $88.21 and a 200-day moving average price of $64.00. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $109.85.

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

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In related news, insider Alan H. Auerbach sold 13,175 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the completion of the sale, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $100.09, for a total value of $1,501,350.00. Following the completion of the sale, the senior vice president now owns 28,239 shares of the company’s stock, valued at $2,826,441.51. The disclosure for this sale can be found here. Insiders have sold 35,173 shares of company stock valued at $3,373,689 over the last 90 days. Corporate insiders own 22.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PBYI. Bank of Montreal Can acquired a new stake in Puma Biotechnology during the 1st quarter worth about $195,000. Wells Fargo & Company MN grew its holdings in Puma Biotechnology by 10.0% during the 1st quarter. Wells Fargo & Company MN now owns 24,151 shares of the biopharmaceutical company’s stock worth $899,000 after acquiring an additional 2,201 shares during the period. Canada Pension Plan Investment Board grew its holdings in Puma Biotechnology by 101.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 43,000 shares of the biopharmaceutical company’s stock worth $1,600,000 after acquiring an additional 21,700 shares during the period. Suntrust Banks Inc. grew its holdings in Puma Biotechnology by 98.1% during the 1st quarter. Suntrust Banks Inc. now owns 28,314 shares of the biopharmaceutical company’s stock worth $1,052,000 after acquiring an additional 14,023 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Puma Biotechnology by 999.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,071 shares of the biopharmaceutical company’s stock worth $858,000 after acquiring an additional 20,972 shares during the period. Institutional investors and hedge funds 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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