Price Action Don’t Lie: Could Puma Biotechnology Inc Decline After Today’s Big Increase?

Price Action Don't Lie: Could Puma Biotechnology Inc Decline After Today's Big Increase?

The stock of Puma Biotechnology Inc (NYSE:PBYI) is a huge mover today! About 745,582 shares traded hands. Puma Biotechnology Inc (NYSE:PBYI) has risen 52.21% since April 8, 2016 and is uptrending. It has outperformed by 46.56% the S&P500.
The move comes after 7 months positive chart setup for the $2.11B company. It was reported on Nov, 10 by Barchart.com. We have $73.50 PT which if reached, will make NYSE:PBYI worth $991.70 million more.

Analysts await Puma Biotechnology Inc (NYSE:PBYI) to report earnings on November, 14. They expect $-2.05 earnings per share, down 9.63% or $0.18 from last year’s $-1.87 per share. After $-2.05 actual earnings per share reported by Puma Biotechnology Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Puma Biotechnology Inc (NYSE:PBYI) Ratings Coverage

Out of 6 analysts covering Puma Biotechnology Inc (NYSE:PBYI), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Puma Biotechnology Inc has been the topic of 13 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was upgraded by Stifel Nicolaus on Wednesday, September 21 to “Buy”. Credit Suisse initiated Puma Biotechnology Inc (NYSE:PBYI) on Thursday, January 21 with “Outperform” rating. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Tuesday, March 29 report. The rating was maintained by Citigroup with “Buy” on Tuesday, March 29. The firm earned “Neutral” rating on Thursday, September 3 by Citigroup. The company was initiated on Thursday, August 27 by JP Morgan. Credit Suisse maintained it with “Outperform” rating and $50 target price in Tuesday, March 29 report. The company was maintained on Monday, April 11 by UBS. The firm has “Outperform” rating by Credit Suisse given on Thursday, September 22. The stock of Puma Biotechnology Inc (NYSE:PBYI) earned “Overweight” rating by JP Morgan on Tuesday, March 29.

According to Zacks Investment Research, “Puma Biotechnology, Inc. is a biopharmaceutical company focused on the acquisition, in-licensing, development and commercialization of novel therapeutics for the treatment of cancer. Its products under development include PB272 (oral neratinib) for the treatment of patients with human epidermal growth factor receptor type 2 (HER2) positive metastatic breast cancer and gastric cancer and PB272 (neratinib intravenous) for the treatment of patients with advanced cancer. Puma Biotechnology, Inc. is headquartered in Los Angeles, California.”

Insitutional Activity: The institutional sentiment increased to 1.21 in Q2 2016. Its up 0.18, from 1.03 in 2016Q1. The ratio improved, as 24 funds sold all Puma Biotechnology Inc shares owned while 24 reduced positions. 18 funds bought stakes while 40 increased positions. They now own 31.26 million shares or 4.53% more from 29.91 million shares in 2016Q1.
Envestnet Asset Mngmt holds 1,613 shares or 0% of its portfolio. The Delaware-based Blackrock has invested 0% in Puma Biotechnology Inc (NYSE:PBYI). Fiera holds 7,800 shares or 0% of its portfolio. Eaton Vance Mngmt accumulated 142,000 shares or 0.01% of the stock. Moreover, Point72 Asset Ltd Partnership has 0.29% invested in Puma Biotechnology Inc (NYSE:PBYI) for 1.42M shares. Schwab Charles Management Incorporated last reported 0% of its portfolio in the stock. Northern Trust accumulated 0% or 272,695 shares. Blackrock Fund Advsrs accumulated 602,071 shares or 0% of the stock. Wells Fargo & Mn holds 0% or 8,700 shares in its portfolio. State Of New Jersey Common Pension Fund D has 25,833 shares for 0% of their US portfolio. Millennium Ltd Limited Liability Company holds 0% or 50,000 shares in its portfolio. Goldman Sachs Grp has 133,722 shares for 0% of their US portfolio. Bb Biotech Ag holds 0.51% of its portfolio in Puma Biotechnology Inc (NYSE:PBYI) for 431,991 shares. Moreover, American Gru has 0% invested in Puma Biotechnology Inc (NYSE:PBYI) for 14,214 shares. Deutsche National Bank & Trust Ag holds 0% of its portfolio in Puma Biotechnology Inc (NYSE:PBYI) for 97,416 shares.

More recent Puma Biotechnology Inc (NYSE:PBYI) news were published by: Prnewswire.com which released: “Puma Biotechnology, Inc. Shareholder Alert: Schubert Firm Investigates Company …” on October 11, 2016. Also Fool.com published the news titled: “Why Puma Biotechnology Inc. Sold Lower Today” on October 19, 2016. Businesswire.com‘s news article titled: “Puma Biotechnology Closes $172 Million Public Offering of Common Stock” with publication date: October 25, 2016 was also an interesting one.

PBYI Company Profile

Puma Biotechnology, Inc., incorporated on September 15, 2010, is a biopharmaceutical firm that focuses on the development and commercialization of products for the treatment of cancer. The Firm 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, or 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.

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