Puma Biotechnology Inc (NYSE:PBYI) had its price objective hoisted by Leerink Swann to $140.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently weighed in on PBYI. Citigroup Inc. reiterated a buy rating and issued a $105.00 price target on shares of Puma Biotechnology in a report on Friday, June 30th. Stifel Nicolaus restated a buy rating and set a $105.00 price objective on shares of Puma Biotechnology in a research note on Monday, July 10th. Zacks Investment Research downgraded Puma Biotechnology from a hold rating to a sell rating in a research note on Tuesday, July 11th. Credit Suisse Group restated an outperform rating and set a $118.00 price objective (up from $90.00) on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Finally, J P Morgan Chase & Co restated a buy rating on shares of Puma Biotechnology in a research note on Tuesday, July 18th. One equities 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 issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $126.56.
Shares of Puma Biotechnology (PBYI) opened at 129.25 on Friday. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $129.25. The stock has a 50 day moving average price of $116.40 and a 200 day moving average price of $84.41. The firm’s market capitalization is $4.81 billion.
Puma Biotechnology (NYSE:PBYI) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($0.78). Equities analysts anticipate that Puma Biotechnology will post ($8.69) earnings per share for the current fiscal year.
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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the senior vice president now owns 42,239 shares in the company, valued at approximately $5,068,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Puma Biotechnology by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock worth $216,284,000 after buying an additional 45,735 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Puma Biotechnology in the 2nd quarter worth approximately $162,302,000. BlackRock Inc. raised its holdings in shares of Puma Biotechnology by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after buying an additional 86,924 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Puma Biotechnology in the 2nd quarter worth approximately $50,134,000. Finally, Emerald Advisers Inc. PA raised its holdings in shares of Puma Biotechnology by 16.5% in the 3rd quarter. Emerald Advisers Inc. PA now owns 370,035 shares of the biopharmaceutical company’s stock worth $44,312,000 after buying an additional 52,355 shares in the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.
Puma Biotechnology Company Profile
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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