Puma Biotechnology Inc. (NYSE:PBYI) had its price target raised by analysts at Credit Suisse Group AG from $54.00 to $111.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 63.04% from the stock’s previous close.
PBYI has been the topic of several other reports. Zacks Investment Research raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Vetr lowered Puma Biotechnology from a “strong-buy” rating to a “strong sell” rating and set a $39.50 target price on the stock. in a research report on Wednesday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Puma Biotechnology in a research report on Sunday, July 24th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 target price (up from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. Finally, Citigroup Inc. set a $88.00 target price on Puma Biotechnology and gave the stock a “buy” rating in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.56.
Shares of Puma Biotechnology (NYSE:PBYI) opened at 68.08 on Thursday. The firm’s 50 day moving average is $56.36 and its 200 day moving average is $39.81. The stock’s market capitalization is $2.21 billion. Puma Biotechnology has a 12 month low of $19.74 and a 12 month high of $94.93.
Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.18) by $1.01. On average, equities analysts predict that Puma Biotechnology will post ($8.12) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Puma Biotechnology during the fourth quarter valued at $16,219,000. Fox Run Management L.L.C. purchased a new position in shares of Puma Biotechnology during the first quarter valued at $385,000. Parametrica Management Ltd purchased a new position in shares of Puma Biotechnology during the first quarter valued at $244,000. BlackRock Group LTD boosted its position in shares of Puma Biotechnology by 36.2% in the first quarter. BlackRock Group LTD now owns 29,622 shares of the biopharmaceutical company’s stock valued at $870,000 after buying an additional 7,869 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Puma Biotechnology by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,979 shares of the biopharmaceutical company’s stock valued at $17,181,000 after buying an additional 14,132 shares in the last quarter. 97.53% 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 global development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), which the Company is developing for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation; PB272 (neratinib (intravenous)), which the Company is developing for the treatment of patients with advanced cancer, and PB357, which is an orally administered agent.
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