Puma Biotechnology (PBYI) Receives a Buy from H.C. Wainwright

In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Puma Biotechnology (PBYI), with a price target of $15.00. The company’s shares closed last Friday at $11.28.

According to TipRanks.com, White is a 5-star analyst with an average return of 40.0% and a 50.7% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Silverback Therapeutics, and Karyopharm Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Puma Biotechnology with a $12.50 average price target.

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Based on Puma Biotechnology’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $98.17 million and net profit of $16.53 million. In comparison, last year the company earned revenue of $51.22 million and had a GAAP net loss of $16.93 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PBYI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Puma Biotechnology, Inc. is a development stage biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. The company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use. Puma Biotechnology was founded by Alan H. Auerbach on September 15, 2010 and is headquartered in Los Angeles, CA.

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