Puma Biotechnology Inc (PBYI) Price Target Raised to $142.00 at Credit Suisse Group

Puma Biotechnology Inc (NYSE:PBYI) had its price objective boosted by Credit Suisse Group from $136.00 to $142.00 in a research note issued to investors on Friday. Credit Suisse Group currently has an outperform rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on PBYI. Citigroup Inc. lifted their target price on shares of Puma Biotechnology from $156.00 to $164.00 and gave the stock a buy rating in a research report on Friday. Stifel Nicolaus reaffirmed a buy rating and set a $110.00 price objective (down from $118.00) on shares of Puma Biotechnology in a research report on Thursday, August 10th. J P Morgan Chase & Co set a $105.00 price objective on shares of Puma Biotechnology and gave the company a buy rating in a research report on Wednesday, August 9th. Barclays PLC reaffirmed a buy rating and set a $122.00 price objective (up from $103.00) on shares of Puma Biotechnology in a research report on Friday. Finally, BidaskClub downgraded shares of Puma Biotechnology from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $130.67.

Puma Biotechnology (NYSE:PBYI) traded down $0.10 during trading on Friday, hitting $101.00. 388,583 shares of the stock traded hands, compared to its average volume of 1,121,087. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $136.90.

Puma Biotechnology (NYSE:PBYI) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share 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 analysts’ expectations of $3.78 million. During the same period last year, the business earned ($1.11) earnings per share.

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In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of Puma Biotechnology 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 completion of the sale, the senior vice president now directly owns 42,239 shares in the company, valued at $5,068,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.70% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake 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 last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Puma Biotechnology in the second quarter worth $211,000. Renaissance Technologies LLC acquired a new stake in shares of Puma Biotechnology in the first quarter worth $7,682,000. BlackRock Inc. lifted its stake in shares of Puma Biotechnology by 5.0% in the second quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after buying an additional 86,924 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Puma Biotechnology in the second quarter worth $302,000. Institutional investors and hedge funds 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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