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Fly News Breaks for July 9, 2015
PBYI
Jul 9, 2015 | 08:12 EDT
UBS analyst Matthew Roden cut his price target for Puma Biotechnology to $235 but keeps a Buy rating on the name. The new price target reflects his reduced sales forecast for neratinib, which Roden attributed to worse than expected physician reaction to the phase-3 ExteNET data presented at ASCO. The analyst, however, views the current risk/reward on shares as compelling ahead of upcoming second half of 2015 catalysts that include NSABP neoadjuvant data. Roden believes positive data could counter concerns over diarrhea.
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