ValuEngine lowered shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 6th. Cantor Fitzgerald began coverage on Progenics Pharmaceuticals in a report on Wednesday, July 12th. They set an overweight rating and a $15.00 price objective on the stock. BidaskClub cut Progenics Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, July 11th. Jefferies Group LLC restated a buy rating and set a $12.00 price objective on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th. Finally, TheStreet cut Progenics Pharmaceuticals from a c rating to a d+ rating in a report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $12.33.
Progenics Pharmaceuticals (PGNX) traded up 2.46% during midday trading on Thursday, reaching $5.82. The company’s stock had a trading volume of 1,280,481 shares. The firm has a market cap of $408.71 million, a price-to-earnings ratio of 60.00 and a beta of 3.35. The company has a 50 day moving average price of $6.81 and a 200 day moving average price of $8.35. Progenics Pharmaceuticals has a 1-year low of $4.84 and a 1-year high of $11.72.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.07. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The business had revenue of $2.40 million for the quarter, compared to analyst estimates of $4.50 million. During the same quarter last year, the business earned ($0.18) EPS. Progenics Pharmaceuticals’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts expect that Progenics Pharmaceuticals will post ($0.84) EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of PGNX. Fox Run Management L.L.C. boosted its position in shares of Progenics Pharmaceuticals by 64.1% in the first quarter. Fox Run Management L.L.C. now owns 19,532 shares of the biotechnology company’s stock worth $184,000 after buying an additional 7,632 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of Progenics Pharmaceuticals during the first quarter worth $453,000. Bank of New York Mellon Corp boosted its position in shares of Progenics Pharmaceuticals by 92.2% in the first quarter. Bank of New York Mellon Corp now owns 1,098,566 shares of the biotechnology company’s stock worth $10,370,000 after buying an additional 526,905 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Progenics Pharmaceuticals by 207.8% in the first quarter. Goldman Sachs Group Inc. now owns 834,742 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 563,534 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Progenics Pharmaceuticals during the first quarter worth $3,472,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.
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.
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