Cantor Fitzgerald Remains a Buy on Puma Biotechnology (PBYI)

By Austin Angelo

In a report released yesterday, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Puma Biotechnology (PBYIResearch Report), with a price target of $57. The company’s shares closed yesterday at $27.81, close to its 52-week low of $17.60.

Young commented:

“: Reiterate OW rating; increasing PT to $57/share. Nerlynx roared in 4Q, and 2019 guidance beats expectations. US Nerlynx sales were $61M vs. $53M consensus. Although gross to net was lower in 4Q, we think that 4Q represents a solid beat, and we saw growth in bottles of 12%. In addition, the company’s 2019 US guidance of $255-280M announced on the call exceeded expectations of $238M. Lastly, the company had its first cash flow positive quarter at ~$8M. Shares have recovered by 59% from their early November lows, but we think that there remains upside to shares from Nerlynx growth. We spoke to management post call and we highlight some of our key takes below.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.9% and a 48.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

The word on The Street in general, suggests a Hold analyst consensus rating for Puma Biotechnology with a $43.75 average price target.

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The company has a one-year high of $83.15 and a one-year low of $17.60. Currently, Puma Biotechnology has an average volume of 953.7K.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.

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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.