Credit Suisse More than Doubles Price Target on Puma Biotechnology (PBYI) to $111
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse analyst Kennen MacKay reiterated an Outperform rating and sharply raised his price target on Puma Biotechnology (NYSE: PBYI) to $111.00 (from $54.00) on increased Neratinib expectations.
MacKay commented, "We increase our PBYI TP to $111 (+$57) on increased sales expectations for neratinib in the HER2+ extended adjuvant setting. We view the FDA's acceptance of neratinib's NDA as a key de-risking event, further supported by mgmt.'s guidance that FDA's 60-day letter indicated that no review issues have been identified at this time."
He added, "Our doc checks suggest improved physician sentiment towards neratinib and growing awareness surrounding the use of Imodium prophylaxis to manage diarrhea. We view this improving the drug's risk/reward profile and likelihood of usage in lower risk patients."
Shares of Puma Biotechnology closed at $67.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- PayPal (PYPL) PT Raised to $45 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!