Eagle Asset Management Inc. Takes Position in Puma Biotechnology Inc (PBYI)

Eagle Asset Management Inc. acquired a new position in shares of Puma Biotechnology Inc (NASDAQ:PBYI) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 297,620 shares of the biopharmaceutical company’s stock, valued at approximately $28,918,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Wisconsin Investment Board boosted its position in Puma Biotechnology by 30.0% during the fourth quarter. State of Wisconsin Investment Board now owns 28,600 shares of the biopharmaceutical company’s stock worth $2,827,000 after purchasing an additional 6,600 shares in the last quarter. Wells Fargo & Company MN boosted its position in Puma Biotechnology by 796.5% during the fourth quarter. Wells Fargo & Company MN now owns 524,933 shares of the biopharmaceutical company’s stock worth $51,890,000 after purchasing an additional 466,382 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in Puma Biotechnology during the fourth quarter worth $3,499,000. Swiss National Bank boosted its position in Puma Biotechnology by 3.5% during the fourth quarter. Swiss National Bank now owns 50,730 shares of the biopharmaceutical company’s stock worth $5,015,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Puma Biotechnology during the fourth quarter worth $1,952,000.

A number of research firms have commented on PBYI. Credit Suisse Group decreased their target price on Puma Biotechnology from $147.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reduced their price objective on Puma Biotechnology from $108.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. They noted that the move was a valuation call. BidaskClub downgraded Puma Biotechnology from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. reduced their price objective on Puma Biotechnology from $138.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Bank of America reduced their price objective on Puma Biotechnology from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.56.

Puma Biotechnology Inc (NASDAQ PBYI) opened at $67.05 on Monday. Puma Biotechnology Inc has a 12-month low of $28.35 and a 12-month high of $136.90.

In other Puma Biotechnology news, insider Charles R. Eyler sold 1,322 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $105.46, for a total transaction of $139,418.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alan H. Auerbach sold 10,692 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $92.75, for a total value of $991,683.00. Following the sale, the insider now owns 4,155,931 shares of the company’s stock, valued at $385,462,600.25. The disclosure for this sale can be found here. Insiders have sold 13,874 shares of company stock worth $1,303,616 over the last quarter. 21.10% of the stock is currently owned by company insiders.

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Puma Biotechnology 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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Institutional Ownership by Quarter for Puma Biotechnology (NASDAQ:PBYI)

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