Puma Biotechnology (NASDAQ:PBYI) had its target price reduced by Bank of America from $135.00 to $115.00 in a research note issued to investors on Wednesday morning. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on PBYI. Royal Bank of Canada cut their target price on shares of Puma Biotechnology from $108.00 to $92.00 and set a sector perform rating for the company in a report on Friday, November 10th. They noted that the move was a valuation call. Citigroup reissued a buy rating and issued a $156.00 price target (up previously from $114.00) on shares of Puma Biotechnology in a report on Thursday, October 5th. Leerink Swann boosted their price target on shares of Puma Biotechnology to $140.00 and gave the stock an outperform rating in a report on Friday, October 27th. BidaskClub raised shares of Puma Biotechnology from a buy rating to a strong-buy rating in a report on Tuesday, October 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Puma Biotechnology from $110.00 to $130.00 and gave the stock a buy rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $110.56.

Puma Biotechnology (NASDAQ PBYI) opened at $68.70 on Wednesday. The firm has a market cap of $2,555.76, a P/E ratio of -8.40 and a beta of 0.72. Puma Biotechnology has a 1-year low of $28.35 and a 1-year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the consensus estimate of ($2.50) by $0.43. The firm had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $3.78 million. During the same period last year, the firm earned ($1.11) earnings per share. analysts predict that Puma Biotechnology will post -8.16 EPS for the current year.

In other Puma Biotechnology news, insider Alan H. Auerbach sold 10,692 shares of Puma Biotechnology stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total transaction of $991,683.00. Following the sale, the insider now owns 4,155,931 shares of the company’s stock, valued at approximately $385,462,600.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard Paul Bryce sold 1,860 shares of Puma Biotechnology stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total transaction of $172,515.00. Following the sale, the senior vice president now directly owns 25,379 shares in the company, valued at approximately $2,353,902.25. The disclosure for this sale can be found here. In the last three months, insiders sold 13,874 shares of company stock valued at $1,303,616. 21.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its stake in Puma Biotechnology by 5.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Puma Biotechnology by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,299 shares of the biopharmaceutical company’s stock worth $1,950,000 after purchasing an additional 437 shares during the last quarter. California Public Employees Retirement System boosted its stake in Puma Biotechnology by 0.7% during the 3rd quarter. California Public Employees Retirement System now owns 108,000 shares of the biopharmaceutical company’s stock worth $12,933,000 after purchasing an additional 800 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Puma Biotechnology by 5.4% during the 4th quarter. Fisher Asset Management LLC now owns 16,386 shares of the biopharmaceutical company’s stock worth $1,620,000 after purchasing an additional 841 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Puma Biotechnology by 13.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,844 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 936 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This story was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.dailypolitical.com/2018/01/27/bank-of-america-cuts-puma-biotechnology-pbyi-price-target-to-115-00.html.

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 development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.