JPMorgan analyst Cory Kasimov raised his price target for Puma Biotechnology shares to $131 from $105 after surveying 25 oncologists to better gauge the launch of Nerlynx for breast cancer.

In a research note titled "Survey Says . . . Nerlynx Looks Poised to Pounce," Kasimov says the survey suggests a "possible materially stronger than anticipated launch." He believes shares still have upside potential as Nerlynx's sales trajectory "appears underappreciated." The analyst reiterates an Overweight rating on Puma shares. The biopharmaceutical company closed yesterday down $2.85 to $117.00.