Citi analyst Yigal Nochomovitz views this morning's news that the FDA accepted Puma Biotechnology's New Drug Application for its lead product candidate PB272 as "perhaps the biggest derisking event" in the company's history. A broader set of investors could be inclined to take a position in the name now, Nochomovitz tells investors in a research note. The analyst recommends buying Puma shares on the news. He expects neratinib to be approved by the FDA next summer and expects the stock to be up at least 10%-15% on today's news. The analyst has a Buy rating on the shares with an $88 price target. Puma is up 9%, or $5.05, to $64 in pre-market trading.