Puma Biotechnology (NASDAQ:PBYI) Earns “Buy” Rating from Citigroup

Puma Biotechnology (NASDAQ:PBYI)‘s stock had its “buy” rating reissued by equities research analysts at Citigroup in a research report issued on Wednesday, January 3rd. They currently have a $164.00 price objective on the biopharmaceutical company’s stock. Citigroup’s price objective would suggest a potential upside of 71.37% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Credit Suisse Group upped 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 upped their price target on Puma Biotechnology to $140.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. BidaskClub upgraded Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. Stifel Nicolaus increased their target price on Puma Biotechnology from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Finally, Bank of America reiterated a “buy” rating and set a $135.00 target price (up previously from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $130.67.

Shares of Puma Biotechnology (NASDAQ PBYI) traded down $0.35 during trading hours on Wednesday, hitting $95.70. The stock had a trading volume of 368,900 shares, compared to its average volume of 539,625. The company has a market capitalization of $3,740.00, a P/E ratio of -11.68 and a beta of 0.72. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.50) by $0.43. The business had revenue of $6.10 million for the quarter, compared to the consensus estimate of $3.78 million. During the same period in the previous year, the company earned ($1.11) earnings per share. equities analysts expect that Puma Biotechnology will post -8.19 earnings per share for the current fiscal year.

In other news, insider Charles R. Eyler sold 1,322 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $105.46, for a total value of $139,418.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund raised its holdings in shares of Puma Biotechnology by 4.7% in 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 buying an additional 1,446 shares during the period. Perceptive Advisors LLC increased its holdings in Puma Biotechnology by 26.0% during the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after purchasing an additional 190,500 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Puma Biotechnology by 9.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 135,167 shares of the biopharmaceutical company’s stock worth $16,187,000 after purchasing an additional 11,787 shares during the period. BlackRock Inc. increased its holdings in Puma Biotechnology by 5.0% during the 2nd 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 during the period. Finally, Prudential Financial Inc. purchased a new position in Puma Biotechnology during the 2nd quarter worth $302,000. Hedge funds and other institutional investors own 96.00% of the company’s stock.

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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.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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