Citigroup Inc. Raises Puma Biotechnology Inc (PBYI) Price Target to $164.00

Puma Biotechnology Inc (NYSE:PBYI) had its price objective boosted by Citigroup Inc. from $156.00 to $164.00 in a report published on Friday, Marketbeat reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on the company. Royal Bank Of Canada decreased their target price on Puma Biotechnology from $108.00 to $92.00 and set a sector perform rating for the company in a research report on Friday. They noted that the move was a valuation call. Leerink Swann increased their target price on Puma Biotechnology to $140.00 and gave the stock an outperform rating in a research report on Friday, October 27th. Bank of America Corporation reissued a buy rating and issued a $135.00 target price (up previously from $117.00) on shares of Puma Biotechnology in a research report on Monday, October 9th. J P Morgan Chase & Co reissued a buy rating and issued a $131.00 target price on shares of Puma Biotechnology in a research report on Wednesday, October 4th. Finally, BidaskClub raised Puma Biotechnology from a buy rating to a strong-buy rating in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Puma Biotechnology currently has a consensus rating of Buy and an average price target of $130.67.

Shares of Puma Biotechnology (NYSE:PBYI) traded down $1.90 during trading hours on Friday, hitting $101.10. The stock had a trading volume of 1,681,600 shares, compared to its average volume of 1,121,087. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $136.90.

Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.50) by $0.43. The firm had revenue of $6.10 million during the quarter, compared to the consensus estimate of $3.78 million. During the same period in the prior year, the company posted ($1.11) EPS.

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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $100.09, for a total transaction of $1,501,350.00. Following the sale, the senior vice president now directly owns 28,239 shares in the company, valued at approximately $2,826,441.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of Puma Biotechnology in the 2nd quarter worth $122,000. Cubist Systematic Strategies LLC purchased a new position in shares of Puma Biotechnology in the 2nd quarter worth $146,000. Kazazian Asset Management LLC bought a new position in Puma Biotechnology in the 2nd quarter worth $209,000. Teacher Retirement System of Texas bought a new position in Puma Biotechnology in the 2nd quarter worth $211,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Puma Biotechnology by 5.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 80.98% of the company’s stock.

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 (NYSE:PBYI)

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