J.P. Morgan Keeps Their Sell Rating on Puma Biotechnology (PBYI)

By Jason Carr

J.P. Morgan analyst Cory Kasimov maintained a Sell rating on Puma Biotechnology (PBYIResearch Report) on August 8 and set a price target of $13. The company’s shares closed on Friday at $11.16, close to its 52-week low of $8.45.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 2.8% and a 44.4% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Puma Biotechnology has an analyst consensus of Hold, with a price target consensus of $19.40, a 73.8% upside from current levels. In a report issued on August 9, Barclays also maintained a Sell rating on the stock with a $9 price target.

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Based on Puma Biotechnology’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $37.4 million. In comparison, last year the company had a GAAP net loss of $44.34 million.

Based on the recent corporate insider activity of 34 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.