Puma Biotechnology: Shares on the prowl – Times of India

BUZZ-Puma Biotechnology: Shares on the prowl:BUZZ-Puma Biotechnology: Shares on the prowl

** Puma Biotechnology shares soar 50.3 pct to $56.80 in heavy Monday morning trading; shares rise as high as $69.35, halted multiple times for volatility

** U.S. Food and Drug Administration posts documents reviewing Puma's neratinib for treating breast cancer ahead of FDA advisory committee meeting on the product on Weds

** Based on sensitivity analyses conducted, results appear to be generally similar to the primary analysis results, supporting an effect of neratinib, FDA staffers say in review documents

** Options market has been pricing in a move about 63 pct, positive or negative, in PBYI shares in reaction to neratinib review, JPMorgan analyst Cory Kasimov said in research note last week

** Short interest in PBYI shares stood at 21.5 pct of shares outstanding as of Apr 27, according to Thomson Reuters data

** Five analysts rate PBYI shares a "buy" or "strong buy", two rate "hold", according to TR data; median price target is $80

** PBYI shares have nearly doubled in 2017, against 9.7 pct rise for Nasdaq Biotechnology index

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Puma Biotechnology: Shares on the prowl - Times of India