Puma Biotechnology Inc (NASDAQ:PBYI) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.
A number of other analysts have also recently commented on PBYI. Credit Suisse Group lifted their price target on Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, September 11th. Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price target (up previously from $115.00) on shares of Puma Biotechnology in a research report on Wednesday, July 19th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, August 1st. Cowen and Company reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $91.00) on shares of Puma Biotechnology in a research report on Saturday, July 22nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $117.00 price target (up previously 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 and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.67.
Shares of Puma Biotechnology (NASDAQ:PBYI) opened at $100.70 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 posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.50) by $0.43. The business had revenue of $6.10 million during the quarter, compared to analyst estimates of $3.78 million. During the same period in the previous year, the business earned ($1.11) EPS. sell-side 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 stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $100.09, for a total value of $1,501,350.00. Following the completion of the transaction, the senior vice president now directly owns 28,239 shares of the company’s stock, valued at $2,826,441.51. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 21.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of PBYI. Janus Henderson Group PLC purchased a new position in Puma Biotechnology in the second quarter valued at about $162,302,000. Franklin Resources Inc. purchased a new position in Puma Biotechnology in the second quarter valued at about $50,134,000. Point72 Asset Management L.P. increased its holdings in Puma Biotechnology by 265.6% in the third quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock valued at $57,743,000 after buying an additional 350,300 shares in the last quarter. Bain Capital Public Equity Management LLC increased its holdings in Puma Biotechnology by 291.0% in the second quarter. Bain Capital Public Equity Management LLC now owns 338,994 shares of the biopharmaceutical company’s stock valued at $29,628,000 after buying an additional 252,294 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Puma Biotechnology in the first quarter valued at about $7,682,000. 95.41% of the stock is owned by institutional investors.
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.
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