JPMorgan Chase & Co. set a $89.00 price objective on Puma Biotechnology Inc. (NYSE:PBYI) in a report released on Tuesday. The firm currently has a a buy rating on the biopharmaceutical company’s stock.

Analyst Recommendations for Puma Biotechnology (NYSE:PBYI)

A number of other equities analysts also recently issued reports on the stock. Citigroup Inc. set a $88.00 price target on shares of Puma Biotechnology and gave the stock a buy rating in a research note on Tuesday. Stifel Nicolaus raised shares of Puma Biotechnology from a hold rating to a buy rating and raised their target price for the company from $61.00 to $88.00 in a research note on Wednesday. Zacks Investment Research raised shares of Puma Biotechnology from a hold rating to a buy rating and set a $51.00 target price for the company in a research note on Friday, August 12th. Vetr downgraded shares of Puma Biotechnology from a strong-buy rating to a strong sell rating and set a $39.50 target price for the company. in a research note on Wednesday, August 10th. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $46.00 target price (up previously from $36.00) on shares of Puma Biotechnology in a research note on Sunday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $60.94.

Puma Biotechnology (NYSE:PBYI) traded up 4.811% during trading on Tuesday, reaching $68.295. The company had a trading volume of 2,086,682 shares. The firm’s market capitalization is $2.22 billion. The firm’s 50 day moving average price is $54.73 and its 200 day moving average price is $39.31. Puma Biotechnology has a 12-month low of $19.74 and a 12-month high of $95.18.

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

Several large investors have recently made changes to their positions in PBYI. Janus Capital Management LLC increased 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 during the period. Vanguard Group Inc. increased 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 during the period. Point72 Asset Management L.P. increased 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 during the period. State Street Corp increased 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 during the period. Finally, BlackRock Fund Advisors increased 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 during the period. 97.53% of the stock is owned by institutional investors.

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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