Stifel analyst Thomas Shrader views the intraday selloff in Puma Biotechnology shares as an overreaction, but he calls management's comments last week "an issue." At a conference last week, management said, "In December, we showed the interim results of this and as you can see the grade 3 diarrhea ranged from 13% to 18%. And also, all of the things that would be involved in tolerability, like stopping the drug, reducing the drug, or discontinuing were all brought down as well. Here, you can see the diarrhea over time in the control study." Shrader believes today's abstract was likely embargoed, but he still finds last week's comments "strange." Nonetheless, the analyst feels neratinib's Grade 3 diarrhea rate is manageable and he notes that Grade 4 diarrhea events were zero in all arms of the trial. Shrader has a Buy rating on Puma with an $88 price target.