Puma Biotechnology Sees Unusually High Options Volume (PBYI)

Puma Biotechnology Inc (NYSE:PBYI) was the target of unusually large options trading activity on Friday. Stock traders acquired 7,131 call options on the company. This is an increase of Infinity compared to the typical daily volume of 0 call options.

Puma Biotechnology (PBYI) opened at $103.00 on Monday. Puma Biotechnology has a 12 month low of $28.35 and a 12 month high of $136.90.

Puma Biotechnology (NYSE:PBYI) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the Thomson Reuters’ 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 quarter last year, the firm earned ($1.11) EPS.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the senior vice president now directly owns 42,239 shares of the company’s stock, valued at approximately $5,068,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund grew its stake in shares of Puma Biotechnology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 32,247 shares of the biopharmaceutical company’s stock worth $2,818,000 after purchasing an additional 1,446 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Puma Biotechnology during the second quarter worth $211,000. Renaissance Technologies LLC acquired a new position in shares of Puma Biotechnology during the first quarter worth $7,682,000. BlackRock Inc. grew its stake in shares of Puma Biotechnology by 5.0% during the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after purchasing an additional 86,924 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Puma Biotechnology during the second quarter worth $302,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.

PBYI has been the topic of several analyst reports. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target (down previously from $118.00) on shares of Puma Biotechnology in a research report on Thursday, August 10th. Credit Suisse Group reaffirmed an “outperform” rating and set a $136.00 price target on shares of Puma Biotechnology in a research report on Wednesday, September 27th. BidaskClub lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $114.00 price target on shares of Puma Biotechnology in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $130.67.

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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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