RBC Capital Markets Reaffirms “Sector Perform” Rating for Puma Biotechnology Inc. (PBYI)

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Puma Biotechnology Inc. (NYSE:PBYI)‘s stock had its “sector perform” rating restated by stock analysts at RBC Capital Markets in a report issued on Thursday.
Other analysts have also issued research reports about the company. Vetr raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating and set a $42.54 target price on the stock in a research report on Tuesday, May 31st. JPMorgan Chase & Co. set a $89.00 target price on Puma Biotechnology and gave the company a “buy” rating in a research report on Tuesday. Citigroup Inc. set a $88.00 target price on Puma Biotechnology and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group AG boosted their target price on Puma Biotechnology from $54.00 to $111.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $68.56.
Shares of Puma Biotechnology (NYSE:PBYI) traded down 2.93% during mid-day trading on Thursday, reaching $65.98. The company’s stock had a trading volume of 2,382,978 shares. Puma Biotechnology has a one year low of $19.74 and a one year high of $94.93. The stock’s market cap is $2.14 billion. The stock has a 50 day moving average of $55.30 and a 200-day moving average of $39.51.

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Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating analysts’ consensus estimates of ($2.18) by $1.01. On average, equities research analysts expect that Puma Biotechnology will post ($8.12) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of PBYI. Janus Capital Management LLC increased its position in shares of Puma Biotechnology by 30.6% in the second quarter. Janus Capital Management LLC now owns 2,540,331 shares of the biopharmaceutical company’s stock worth $75,675,000 after buying an additional 594,821 shares during the last quarter. EverPoint Asset Management LLC purchased a new position in shares of Puma Biotechnology during the second quarter worth approximately $13,406,000. BlackRock Fund Advisors increased its position in shares of Puma Biotechnology by 160.7% in the second quarter. BlackRock Fund Advisors now owns 602,071 shares of the biopharmaceutical company’s stock worth $17,936,000 after buying an additional 371,151 shares during the last quarter. State Street Corp increased its position in shares of Puma Biotechnology by 39.4% in the first quarter. State Street Corp now owns 1,062,291 shares of the biopharmaceutical company’s stock worth $31,200,000 after buying an additional 300,462 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Puma Biotechnology by 22.3% in the second quarter. Point72 Asset Management L.P. now owns 1,415,800 shares of the biopharmaceutical company’s stock worth $42,177,000 after buying an additional 258,100 shares during the last quarter. Hedge funds and other institutional investors own 97.53% of the company’s stock.
About Puma Biotechnology
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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