In a report released today, Alethia Young from Cantor Fitzgerald maintained a Buy rating on Puma Biotechnology (PBYI), with a price target of $50. The company’s shares opened today at $23.11, close to its 52-week low of $17.60.
Young noted:
“. We continue to rate PBYI shares Overweight with a price target of $50. This morning, PBYI presented updated results from its ongoing Phase II CONTROL study which were incremental and continue to support the company thesis that they can potentially limit the discontinuations due to adverse events in the real world setting with various prophylaxis measures. In other presentation at SABCS yesterday (12/05), Roche (RHHBY, Not Covered) presented full results from the Katherine Phase III study evaluating Kadcyla in HER2-positive early breast cancer patients.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.7% and a 47.4% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Intercept Pharma, and PTC Therapeutics.
Currently, the analyst consensus on Puma Biotechnology is a Hold with an average price target of $44.56.
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Based on Puma Biotechnology’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $14.2 million. In comparison, last year the company had a GAAP net loss of $77.18 million.
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Puma Biotechnology, Inc. is a development stage biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer.
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