Puma Biotechnology Inc (PBYI) Shares are Up 3%

Puma Biotechnology Inc (PBYI) : Traders are bullish on Puma Biotechnology Inc (PBYI) as it has outperformed the S&P 500 by a wide margin of 20.18% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.03%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3% in the last 1 week, and is up 20.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Puma Biotechnology, Inc. is up 56.78% in the last 3-month period. Year-to-Date the stock performance stands at -36.11%. The stock has recorded a 20-day Moving Average of 5.84% and the 50-Day Moving Average is 31.48%.


Puma Biotechnology Inc (NYSE:PBYI): The stock opened at $50.36 on Friday but the bulls could not build on the opening and the stock topped out at $51.51 for the day. The stock traded down to $49.77 during the day, due to lack of any buying support eventually closed down at $50.09 with a loss of -1.32% for the day. The stock had closed at $50.76 on the previous day. The total traded volume was 313,531 shares.

Also, Brokerage firm UBS maintains its rating on Puma Biotechnology Inc (NYSE:PBYI). As per the latest information, the brokerage house lowers the price target to $60 per share from a prior target of $235. The shares have been rated Buy. The rating by the firm was issued on April 11, 2016.

Puma Biotechnology, Inc. is a biopharmaceutical company that focuses on the acquisition, development and commercialization of products for the treatment 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 seeks to further develop those drug candidates for commercial use. It licenses the rights to three drug candidates. It is developing PB272 (neratinib (oral)) for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation. It is developing PB272 (neratinib (intravenous)) for the treatment of patients with advanced cancer. PB357 is an orally administered agent that is an irreversible tyrosine kinase inhibitor that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2, and HER4.

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