Puma Biotechnology Inc (PBYI) Downgraded by BidaskClub

BidaskClub cut shares of Puma Biotechnology Inc (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other research analysts have also issued reports on the company. Credit Suisse Group increased their target price on Puma Biotechnology from $136.00 to $142.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Barclays PLC reissued a buy rating and issued a $122.00 target price (up previously from $103.00) on shares of Puma Biotechnology in a research report on Friday, November 10th. Citigroup Inc. increased their target price on Puma Biotechnology from $156.00 to $164.00 and gave the stock a buy rating in a research report on Friday, November 10th. Royal Bank Of Canada cut their price target on Puma Biotechnology from $108.00 to $92.00 and set a sector perform rating on the stock in a research note on Friday, November 10th. They noted that the move was a valuation call. Finally, Leerink Swann upped their price target on Puma Biotechnology to $140.00 and gave the stock an outperform rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $130.67.

Puma Biotechnology (PBYI) opened at $105.50 on Tuesday. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) EPS for the quarter, beating analysts’ consensus estimates of ($2.50) by $0.43. The business had revenue of $6.10 million for the quarter, compared to the consensus estimate of $3.78 million. During the same period in the previous year, the company earned ($1.11) EPS. analysts forecast that Puma Biotechnology will post -8.19 EPS for the current 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 dated 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 sale, 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 legal filing with the SEC, which is available through this hyperlink. 21.10% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Puma Biotechnology during the second quarter valued at about $122,000. Cubist Systematic Strategies LLC purchased a new position in shares of Puma Biotechnology during the second quarter valued at about $146,000. Sei Investments Co. purchased a new position in shares of Puma Biotechnology during the third quarter valued at about $256,000. Kazazian Asset Management LLC purchased a new position in shares of Puma Biotechnology during the second quarter valued at about $209,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Puma Biotechnology during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 95.41% 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 (NASDAQ:PBYI)

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