Analyst Marc Frahm of TD Cowen maintained a Hold rating on Puma Biotechnology, boosting the price target to $5.00.
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Marc Frahm has given his Hold rating due to a combination of factors related to Puma Biotechnology’s recent financial performance and future prospects. The company reported third-quarter sales of Nerlynx that exceeded market expectations, leading to a net income of $8.8 million. Despite this positive performance, the year-over-year sales showed a decline, and there were decreases in new and total prescriptions, which may have influenced the Hold rating.
Furthermore, while Puma has raised its full-year revenue and net income guidance, the adjustments were modest. The ongoing trials for Alisertib in specific cancer treatments are promising, but data will not be available until the first half of 2026. This uncertainty, along with the slight increase in the price target to $5, suggests a cautious approach, justifying the Hold rating as the company navigates these developments.
Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Revolution Medicines, and Cullinan Management. According to TipRanks, Frahm has an average return of 14.4% and a 51.91% success rate on recommended stocks.