The Manufacturers Life Insurance Company increased its stake in Puma Biotechnology Inc (NYSE:PBYI) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,299 shares of the biopharmaceutical company’s stock after purchasing an additional 437 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Puma Biotechnology worth $1,950,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PBYI. Parametric Portfolio Associates LLC bought a new position in shares of Puma Biotechnology in the first quarter worth approximately $257,000. Teachers Advisors LLC increased its position in shares of Puma Biotechnology by 2.0% in the first quarter. Teachers Advisors LLC now owns 145,197 shares of the biopharmaceutical company’s stock worth $5,401,000 after purchasing an additional 2,824 shares during the last quarter. Legal & General Group Plc increased its position in shares of Puma Biotechnology by 2.8% in the first quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 249 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in Puma Biotechnology during the first quarter valued at approximately $977,000. Finally, Vanguard Group Inc. grew its position in Puma Biotechnology by 4.4% during the first quarter. Vanguard Group Inc. now owns 2,428,909 shares of the biopharmaceutical company’s stock valued at $90,355,000 after acquiring an additional 101,722 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.
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A number of research analysts have commented on PBYI shares. Credit Suisse Group increased their price target on shares of Puma Biotechnology from $118.00 to $136.00 and gave the company an “outperform” rating in a research report on Monday, September 11th. Leerink Swann reiterated an “outperform” rating and set a $125.00 price target (up from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, August 1st. Cowen and Company reiterated an “outperform” rating and set a $120.00 price target (up from $91.00) on shares of Puma Biotechnology in a research report on Saturday, July 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $117.00 price target (up from $100.00) on shares of Puma Biotechnology in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Puma Biotechnology presently has an average rating of “Buy” and a consensus price target of $126.56.
In other news, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the senior vice president now owns 42,239 shares of the company’s stock, valued at $5,068,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.70% of the company’s stock.
Shares of Puma Biotechnology Inc (NYSE PBYI) opened at $130.45 on Monday. Puma Biotechnology Inc has a 52 week low of $28.35 and a 52 week high of $131.70.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings data 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).
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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