JPMorgan Chase & Co. Invests $726,000 in Progenics Pharmaceuticals Inc. (PGNX)

JPMorgan Chase & Co. bought a new position in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) during the first quarter, Holdings Channel reports. The institutional investor bought 76,925 shares of the biotechnology company’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Progenics Pharmaceuticals by 1,077.2% in the first quarter. BNP Paribas Arbitrage SA now owns 12,961 shares of the biotechnology company’s stock worth $122,000 after buying an additional 11,860 shares during the period. Profund Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals during the first quarter worth approximately $128,000. Morse Asset Management Inc purchased a new position in shares of Progenics Pharmaceuticals during the first quarter worth approximately $155,000. Mason Street Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals during the first quarter worth approximately $155,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Progenics Pharmaceuticals during the fourth quarter worth approximately $163,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) opened at 6.61 on Thursday. The company has a market cap of $464.19 million, a P/E ratio of 68.14 and a beta of 3.36. Progenics Pharmaceuticals Inc. has a 1-year low of $4.84 and a 1-year high of $11.72. The stock’s 50 day moving average price is $6.89 and its 200 day moving average price is $8.43.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.07. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The firm had revenue of $2.40 million for the quarter, compared to the consensus estimate of $4.50 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company’s revenue was down 4.0% on a year-over-year basis. Equities research analysts forecast that Progenics Pharmaceuticals Inc. will post ($0.84) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by [[site]] and is the sole property of of [[site]]. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at [[permalink]].

A number of research analysts have commented on PGNX shares. Jefferies Group LLC restated a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. TheStreet downgraded Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Cantor Fitzgerald started coverage on Progenics Pharmaceuticals in a research note on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, BidaskClub downgraded Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.33.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.

Want to see what other hedge funds are holding PGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progenics Pharmaceuticals Inc. (NASDAQ:PGNX).