Citigroup Inc. set a $88.00 price target on Puma Biotechnology Inc. (NYSE:PBYI) in a research note published on Tuesday. The brokerage currently has a a buy rating on the biopharmaceutical company’s stock.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

A number of other equities research analysts have also commented on PBYI. Credit Suisse Group AG restated a buy rating on shares of Puma Biotechnology in a research report on Tuesday, July 12th. Stifel Nicolaus upgraded Puma Biotechnology from a hold rating to a buy rating and raised their price objective for the stock from $61.00 to $88.00 in a research report on Wednesday. Zacks Investment Research upgraded Puma Biotechnology from a hold rating to a buy rating and set a $51.00 price objective for the company in a research report on Friday, August 12th. Vetr lowered Puma Biotechnology from a strong-buy rating to a buy rating and set a $40.36 price objective for the company. in a research report on Monday, May 30th. Finally, RBC Capital Markets restated a sector perform rating and set a $46.00 price objective (up from $36.00) on shares of Puma Biotechnology in a research report on Sunday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $60.94.

Shares of Puma Biotechnology (NYSE:PBYI) traded up 4.811% during mid-day trading on Tuesday, reaching $68.295. 2,086,682 shares of the company’s stock traded hands. The company’s market capitalization is $2.22 billion. Puma Biotechnology has a 1-year low of $19.74 and a 1-year high of $95.18. The firm has a 50-day moving average price of $54.73 and a 200-day moving average price of $39.31.

Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.18) by $1.01. On average, equities research analysts forecast that Puma Biotechnology will post ($8.12) earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Janus Capital Management LLC raised its stake 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 valued at $75,675,000 after buying an additional 594,821 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Puma Biotechnology by 5.2% in the second quarter. Vanguard Group Inc. now owns 1,929,407 shares of the biopharmaceutical company’s stock valued at $57,477,000 after buying an additional 95,570 shares in the last quarter. Point72 Asset Management L.P. raised its stake 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 valued at $42,177,000 after buying an additional 258,100 shares in the last quarter. State Street Corp raised its stake 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 valued at $31,200,000 after buying an additional 300,462 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake 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 valued at $17,936,000 after buying an additional 371,151 shares in the last quarter. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:PBYI

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