Puma Biotechnology Inc (NYSE:PBYI) had its target price dropped by equities research analysts at Royal Bank Of Canada from $108.00 to $92.00 in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 9.00% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently weighed in on the stock. Leerink Swann boosted their price target on shares of Puma Biotechnology to $140.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Bank of America Corporation restated a “buy” rating and issued a $135.00 price target (up previously from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. Citigroup Inc. restated a “buy” rating and issued a $156.00 price target (up previously from $114.00) on shares of Puma Biotechnology in a research report on Thursday, October 5th. J P Morgan Chase & Co restated a “buy” rating and issued a $131.00 price target on shares of Puma Biotechnology in a research report on Wednesday, October 4th. Finally, BidaskClub upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $130.67.

Shares of Puma Biotechnology (PBYI) opened at $101.10 on Friday. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.

Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping the consensus estimate of ($2.50) by $0.43. The business had revenue of $6.10 million during the quarter, compared to the consensus estimate of $3.78 million. During the same quarter in the prior year, the firm posted ($1.11) EPS.

TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/11/10/puma-biotechnology-inc-pbyi-pt-raised-to-108-00.html.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the business’s 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 owns 42,239 shares in the company, valued at $5,068,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Puma Biotechnology by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock worth $216,284,000 after purchasing an additional 45,735 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Puma Biotechnology in the second quarter worth about $162,302,000. BlackRock Inc. grew its holdings in shares of Puma Biotechnology by 5.0% in the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after purchasing an additional 86,924 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Puma Biotechnology in the second quarter worth about $50,134,000. Finally, Emerald Advisers Inc. PA grew its holdings in shares of Puma Biotechnology by 16.5% in the third quarter. Emerald Advisers Inc. PA now owns 370,035 shares of the biopharmaceutical company’s stock worth $44,312,000 after purchasing an additional 52,355 shares during the last quarter. Hedge funds and other 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)

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.