Brokerages Set Puma Biotechnology Inc (PBYI) Target Price at $115.33
Puma Biotechnology Inc (NYSE:PBYI) has earned a consensus recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $124.89.
PBYI has been the topic of several recent analyst reports. Bank of America Corporation restated a “buy” rating and set a $135.00 price objective (up from $117.00) on shares of Puma Biotechnology in a research note on Monday. Citigroup Inc. restated a “buy” rating and set a $156.00 price objective (up from $114.00) on shares of Puma Biotechnology in a research note on Thursday. J P Morgan Chase & Co restated a “buy” rating and set a $131.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, October 4th. BidaskClub upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Puma Biotechnology from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd.
In related news, SVP Richard Paul Bryce sold 1,998 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.48, for a total value of $188,771.04. Following the transaction, the senior vice president now owns 27,246 shares in the company, valued at approximately $2,574,202.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alan H. Auerbach sold 13,175 shares of the business’s stock in a transaction dated 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 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. In the last quarter, insiders sold 45,173 shares of company stock worth $4,738,189. 22.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Puma Biotechnology by 2.4% in the 1st quarter. FMR LLC now owns 3,540,729 shares of the biopharmaceutical company’s stock valued at $131,715,000 after purchasing an additional 81,410 shares during the period. Wellington Management Group LLP boosted its holdings in Puma Biotechnology by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 2,539,350 shares of the biopharmaceutical company’s stock valued at $94,464,000 after purchasing an additional 170,812 shares during the period. Vanguard Group Inc. boosted its holdings in Puma Biotechnology by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock valued at $216,284,000 after purchasing an additional 45,735 shares during the period. Janus Henderson Group PLC bought a new stake in Puma Biotechnology in the 2nd quarter valued at about $162,302,000. Finally, BlackRock Inc. boosted its holdings in Puma Biotechnology by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock valued at $159,973,000 after purchasing an additional 86,924 shares during the period. 80.98% of the stock is owned by hedge funds and other institutional investors.
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Puma Biotechnology (NYSE:PBYI) traded down 0.185% during trading on Wednesday, reaching $121.175. 627,354 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $101.83 and a 200-day moving average price of $73.87. The firm’s market cap is $4.51 billion. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $127.02.
Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.78). On average, analysts forecast that Puma Biotechnology will post ($8.69) earnings per share for the current fiscal year.
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.
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