Puma Biotechnology Inc (NYSE:PBYI)‘s stock had its “outperform” rating restated by analysts at Leerink Swann in a report released on Monday. They currently have a $115.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s price target indicates a potential upside of 32.49% from the stock’s current price.
PBYI has been the subject of a number of other reports. Credit Suisse Group reissued an “outperform” rating and issued a $58.00 price target on shares of Puma Biotechnology in a report on Tuesday, April 18th. Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price target on shares of Puma Biotechnology in a report on Wednesday, April 19th. Royal Bank Of Canada set a $40.00 price target on shares of Puma Biotechnology and gave the company a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research raised shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, May 16th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $88.00 price objective on shares of Puma Biotechnology in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $89.75.
Puma Biotechnology (PBYI) opened at 86.90 on Monday. The company has a 50 day moving average of $70.29 and a 200-day moving average of $44.73. The stock’s market capitalization is $3.21 billion. Puma Biotechnology has a 52-week low of $28.35 and a 52-week high of $92.00.
Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($2.06) by $0.09. Equities research analysts anticipate that Puma Biotechnology will post ($8.50) EPS for the current year.
In other Puma Biotechnology news, major shareholder Adage Capital Partners Gp, L.L sold 1,235,700 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $75.38, for a total transaction of $93,147,066.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 1,990,088 shares of company stock worth $157,553,113. Corporate insiders own 22.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Puma Biotechnology by 2.4% in the first quarter. FMR LLC now owns 3,540,729 shares of the biopharmaceutical company’s stock valued at $131,715,000 after buying an additional 81,410 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Puma Biotechnology by 7.2% in the first quarter. Wellington Management Group LLP now owns 2,539,350 shares of the biopharmaceutical company’s stock valued at $94,464,000 after buying an additional 170,812 shares during the period. Vanguard Group Inc. boosted its position in shares of Puma Biotechnology by 4.4% in the first quarter. Vanguard Group Inc. now owns 2,428,909 shares of the biopharmaceutical company’s stock valued at $90,355,000 after buying an additional 101,722 shares during the period. State Street Corp boosted its position in shares of Puma Biotechnology by 113.1% in the fourth quarter. State Street Corp now owns 1,946,098 shares of the biopharmaceutical company’s stock valued at $59,746,000 after buying an additional 1,032,915 shares during the period. Finally, Redmile Group LLC boosted its position in shares of Puma Biotechnology by 33.7% in the first quarter. Redmile Group LLC now owns 1,725,414 shares of the biopharmaceutical company’s stock valued at $64,185,000 after buying an additional 435,274 shares during the period. 80.98% of the stock is owned by institutional investors.
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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