Credit Suisse Reiterates a Buy Rating on Puma BiotechnologyBy Austin Angelo
“We further anticipate that the FDA could want to solicit expert opinion on neratinib’s risk/reward profile given the diarrhea concerns. We await upcoming data from loperamide prophylaxis and budesonide treatment at SABCS to better understand the ability of these agents to reduce diarrhea in neratinib-treated patients, and gauge physician acceptance of neratinib’s risk/reward profile. We continue to view neratinib as approvable in the extended adjuvant setting, and like PBYI for multiple upcoming catalysts through the end of 2016 and H1:17 (details below). We maintain our DCF-derived $111 TP and OUTPERFORM rating.”
According to TipRanks.com, MacKay is a top 100 analyst with an average return of 23.2% and a 72.9% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Five Prime Therapeutics, Akebia Therapeutics, and Seattle Genetics.
Currently, the analyst consensus on Puma Biotechnology is Strong Buy and the average price target is $111, representing a 130.8% upside.
In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $88 price target.
Based on Puma Biotechnology’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $0 and GAAP net loss of $66.6 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $60.42 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2015, Richard Paul Bryce, the SR VP, CLINICAL RESEARCH & DEV of PBYI bought 30 shares for a total of $2,484.
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.