Puma Biotechnology is adding to its 2017 gains after FDA nod for new drug
Analysts are weighing in on biopharmaceutical companies Puma Biotechnology Inc (NASDAQ:PBYI) and Paratek Pharmaceuticals Inc (NASDAQ:PRTK), as well as digital payment stock PayPal Holdings Inc (NASDAQ:PYPL). Here's a quick roundup of today's bullish brokerage notes on shares of PBYI, PRTK, and PYPL.
Puma Biotechnology Soars After FDA Nod for Breast Cancer Drug
Puma Biotechnology stock is up a whopping 10.3% to trade at $94.95, after the Food and Drug Administration (FDA) approved its breast cancer treatment late Monday. This morning, Stifel raised its price target on PBYI to $118 from $105, while Credit Suisse hiked its own target to $118 from $90. Up more than 200% year-to-date, PBYI peaked this morning at $97.14 -- its highest since September 2015.
Of the six analysts following PBYI, five rate it a "strong buy." Option buyers, however, have had quite the bearish appetite as of late. PBYI sports a 10-day put/call volume ratio of 2.15 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), indicating that traders have bought to open more than two Puma Biotech puts for every call during the past two weeks. Moreover, short interest represents roughly 26% of the stock's total available float, or 6.5 times PBYI's daily trading volume.
Paratek Stock Surges After Drug Data Release
Paratek Pharmaceuticals stock is down 0.8% at $24.75, erasing its pre-market gains after last night's release of upbeat drug data for omadacycline. HC Wainwright raised its price target on PRTK to $43 from $36 in response to the news, with the brokerage from looking for Paratek shares to rally to new five-year highs. All seven analysts following PRTK rate it a "strong buy."
PayPal Strikes Deal With Visa, Swipes Price-Target Hikes
Susquehanna and Deutsche Bank raised their price targets on PayPal stock to $67 from $55 and to $61 from $52, respectively. These price-target hikes come shortly after a Financial Times report that PayPal has struck a deal with Visa to offer to debit cards in Europe, and follows recent pacts with Samsung Pay and the Apple Store. More than two-thirds of the 31 analysts following PYPL rate it a "buy" or better -- but with the stock up 0.8% at $58.04, bringing its year-to-date gain to 47%, the upbeat sentiment is certainly supported by the price action.