Puma Biotechnology Inc (PBYI) Given Buy Rating at Bank of America Corporation
Bank of America Corporation restated their buy rating on shares of Puma Biotechnology Inc (NYSE:PBYI) in a research note released on Monday morning. The brokerage currently has a $135.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $117.00.
Other equities research analysts have also recently issued research reports about the company. J P Morgan Chase & Co reissued a buy rating on shares of Puma Biotechnology in a research note on Tuesday, August 1st. Citigroup Inc. reaffirmed a buy rating and set a $114.00 target price on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a buy rating and set a $118.00 target price (up previously from $105.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, BidaskClub cut Puma Biotechnology from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Puma Biotechnology currently has an average rating of Buy and an average target price of $124.89.
Puma Biotechnology (NYSE:PBYI) opened at 121.175 on Monday. The firm’s market cap is $4.51 billion. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $127.02. The firm’s 50-day moving average price is $103.02 and its 200-day moving average price is $74.94.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($0.78). Equities research analysts expect that Puma Biotechnology will post ($8.69) EPS for the current year.
In other Puma Biotechnology news, SVP Richard Paul Bryce sold 1,998 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was 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 of the company’s stock, valued at $2,574,202.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of the business’s 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 transaction, the insider now directly owns 4,170,623 shares in the company, valued at approximately $395,083,116.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,173 shares of company stock worth $4,738,189. 22.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in Puma Biotechnology in the second quarter worth $122,000. Cubist Systematic Strategies LLC purchased a new position in Puma Biotechnology in the second quarter worth $146,000. Kazazian Asset Management LLC purchased a new position in Puma Biotechnology in the second quarter worth $209,000. Teacher Retirement System of Texas purchased a new position in Puma Biotechnology in the second quarter worth $211,000. Finally, Ameritas Investment Partners Inc. boosted its position in Puma Biotechnology by 5.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 140 shares during the last quarter. 80.98% of the stock is currently owned by institutional investors and hedge funds.
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.
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.