Citigroup Inc. Reiterates Buy Rating for Puma Biotechnology Inc (PBYI)
Citigroup Inc. reiterated their buy rating on shares of Puma Biotechnology Inc (NYSE:PBYI) in a research note released on Thursday morning, MarketBeat Ratings reports. Citigroup Inc. currently has a $156.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $114.00.
PBYI has been the subject of a number of other reports. J P Morgan Chase & Co restated a buy rating and issued a $131.00 target price on shares of Puma Biotechnology in a research report on Wednesday, October 4th. Leerink Swann restated an outperform rating and issued a $125.00 target price on shares of Puma Biotechnology in a research report on Wednesday, August 2nd. Bank of America Corporation reiterated a buy rating and set a $117.00 price objective (up previously from $100.00) on shares of Puma Biotechnology in a research report on Friday, July 21st. BidaskClub upgraded Puma Biotechnology from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada set a $88.00 price objective on Puma Biotechnology and gave the company a hold rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Puma Biotechnology presently has an average rating of Buy and an average target price of $122.89.
Shares of Puma Biotechnology (PBYI) opened at 121.40 on Thursday. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $127.02. The stock has a 50 day moving average price of $101.83 and a 200 day moving average price of $73.87. The firm’s market capitalization is $4.52 billion.
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 analysts’ consensus estimates of ($1.32) by ($0.78). Analysts predict that Puma Biotechnology will post ($8.69) EPS for the current fiscal year.
In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the senior vice president now directly owns 42,239 shares of the company’s stock, valued at $5,068,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,248,067.75. Following the transaction, the insider now directly 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 45,173 shares of company stock worth $4,738,189 over the last ninety days. 22.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Puma Biotechnology during the second quarter worth $122,000. Cubist Systematic Strategies LLC acquired a new position in Puma Biotechnology during the second quarter worth $146,000. Kazazian Asset Management LLC acquired a new position in Puma Biotechnology during the second quarter worth $209,000. Teacher Retirement System of Texas acquired a new position in Puma Biotechnology during the second quarter worth $211,000. Finally, Ameritas Investment Partners Inc. increased its position in Puma Biotechnology by 5.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 140 shares during the last quarter. 80.98% of the stock is currently 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.
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