Skip to content

Puma target upped to $105 by Citi

May 25, 2017

Citi raised its price target on Puma Biotechnology (NASDAQ: PBYI) to $105.00 (from $88.00) while maintaining a Buy rating.

Analyst Yigal Nochomovitz said the 12-4 panel vote has affirmed their positive views and makes FDA approval virtually reflexive.

Nochomovitz adds that upside on new takeout speculation could drive shares even beyond their new price target.

The analyst further notes the panel discussions on label breadth fully in-line with their model. “Even if label ends up only saying Stage 2+, HR+ pts, max 1 year from Herceptin (it will likely be broader) this is what we already model,” he said. He also notes that Richard Pazdur was very quiet. “From experience we know that when he doesn’t want to approve something, he is vocal,” he adds.

http://bit.ly/2rY3qWh

Advertisements

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: