Citigroup Issues an Upgrade on Puma Biotech (NYSE:PBYI) Shares. What’s Next?

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Puma Biotech (NYSE:PBYI) Stock Upgrade

In recent note disseminated on Monday morning, Citigroup raised shares of Puma Biotech (NYSE:PBYI) to a “Buy”. The previous rating for PBYI was a “Neutral”.

Approximately 1.31M shares of stock traded hands or 44.82% up from the average. Puma Biotechnology Inc (NYSE:PBYI) has declined 66.20% since May 11, 2015 and is downtrending. It has underperformed by 61.78% the S&P500.

The overall sentiment of institutions has decreased to 0.72 in Q2 2015. Its down 0.39, from 1.11 in 2015Q2. The ratio fall, as 46 institutions have sold all the shares of Puma Biotechnology Inc that they owned while 55 funds have taken shares off the table. 12 funds have purchased shares for the first time while 61 added to their positions. These institutions now hold 27.60 million shares or 8.04% less than the 30.01 million shares they owned in 2015Q2.

The Fund Avalon Global Asset Management Llc currently is holding shares equating to 1.79% of its total portfolio in Puma Biotechnology Inc representing a total of 32,900 shares. Another fund,Cornerstone Capital Management Llc, is holding a total of 495,145 shares equating to 1.58% of their holdings. Additionally, Bb Biotech Ag has a 521,991 share stake in Puma Biotechnology Inc which represents 1.25% of their total portfolio. The Fund, Weatherbie Capital Llc, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 1.2% of their total portfolio. Finally Adage Capital Partners Gp Llc, a fund which is based in the state of Massachusetts reported a total holdings of 5.69 million shares.

Insider activity is a very important aspect to track on any stock. Going back to July 8, 2015, shareholders of Puma Biotechnology Inc have witnessed 0 insider buys, and a total of 1 insider sale equating to a net activity of approximately $330,084 . Bryce Richard Paul sold 3,000 shares worth approximately $330,084.

Puma Biotechnology, Inc. is a biopharmaceutical firm that focuses on the acquisition, development and commercialization of products for the treatment of cancer. The company has a market cap of $2.19 billion. The Firm focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seeks to further develop those drug candidates for commercial use. It currently has negative earnings. It licenses the rights to three drug candidates.

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.”

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