573,619 Shares in Puma Biotechnology Inc (PBYI) Purchased by Franklin Resources Inc.
Franklin Resources Inc. purchased a new stake in Puma Biotechnology Inc (NYSE:PBYI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 573,619 shares of the biopharmaceutical company’s stock, valued at approximately $50,134,000. Franklin Resources Inc. owned about 1.55% of Puma Biotechnology at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $460,000. Neuberger Berman Group LLC bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $1,503,000. Prudential Financial Inc. bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $302,000. American Century Companies Inc. grew its position in shares of Puma Biotechnology by 63.4% in the 2nd quarter. American Century Companies Inc. now owns 44,102 shares of the biopharmaceutical company’s stock valued at $3,855,000 after buying an additional 17,115 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Puma Biotechnology in the 2nd quarter valued at about $481,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.
In related news, SVP Richard Paul Bryce sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $100.09, for a total value of $1,501,350.00. Following the sale, the senior vice president now directly owns 28,239 shares of the company’s stock, valued at $2,826,441.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan H. Auerbach sold 13,175 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the completion of the sale, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The disclosure for this sale can be found here. Insiders sold 35,173 shares of company stock worth $3,373,689 over the last three months. 22.70% of the stock is owned by insiders.
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A number of equities research analysts have commented on the company. Citigroup Inc. upgraded Puma Biotechnology to a “buy” rating and set a $105.00 price target on the stock in a research report on Sunday, May 28th. Royal Bank Of Canada upped their price target on Puma Biotechnology from $40.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price target (up previously from $105.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Puma Biotechnology from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $110.70.
Shares of Puma Biotechnology Inc (NYSE PBYI) opened at 102.25 on Friday. The company’s 50 day moving average price is $89.54 and its 200 day moving average price is $66.01. Puma Biotechnology Inc has a 12 month low of $28.35 and a 12 month high of $109.85. The company’s market cap is $3.80 billion.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78). On average, equities analysts expect that Puma Biotechnology Inc will post ($8.67) EPS for the current fiscal year.
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.
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