ValuEngine lowered shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) from a hold rating to a sell rating in a report published on Thursday, August 3rd.
Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th. TheStreet cut shares of Progenics Pharmaceuticals from a c rating to a d+ rating in a report on Friday, May 26th. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 6th. Cantor Fitzgerald initiated coverage on shares of Progenics Pharmaceuticals in a report on Wednesday, July 12th. They issued an overweight rating and a $15.00 target price for the company. Finally, BidaskClub cut shares of Progenics Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $12.33.
Shares of Progenics Pharmaceuticals (PGNX) traded down 6.22% during midday trading on Thursday, reaching $5.28. The company’s stock had a trading volume of 1,575,271 shares. Progenics Pharmaceuticals has a 52 week low of $4.60 and a 52 week high of $11.72. The company has a 50 day moving average of $6.43 and a 200-day moving average of $8.14. The stock’s market capitalization is $370.67 million.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.04. Progenics Pharmaceuticals had a negative net margin of 6.13% and a negative return on equity of 4.11%. The company had revenue of $2.77 million during the quarter, compared to analysts’ expectations of $3.34 million. During the same period last year, the firm earned ($0.08) earnings per share. Progenics Pharmaceuticals’s revenue was down 67.3% on a year-over-year basis. Equities research analysts predict that Progenics Pharmaceuticals will post ($0.89) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PGNX. BlackRock Inc. boosted its position in Progenics Pharmaceuticals by 149,468.9% in the first quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock valued at $89,897,000 after buying an additional 9,516,686 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Progenics Pharmaceuticals by 50.8% in the second quarter. Eagle Asset Management Inc. now owns 4,012,366 shares of the biotechnology company’s stock valued at $27,243,000 after buying an additional 1,352,245 shares in the last quarter. Vanguard Group Inc. boosted its position in Progenics Pharmaceuticals by 46.1% in the first quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock valued at $39,013,000 after buying an additional 1,304,487 shares in the last quarter. Park West Asset Management LLC raised its position in shares of Progenics Pharmaceuticals by 102.1% in the first quarter. Park West Asset Management LLC now owns 2,494,096 shares of the biotechnology company’s stock valued at $23,544,000 after buying an additional 1,259,910 shares during the last quarter. Finally, State Street Corp raised its position in shares of Progenics Pharmaceuticals by 42.7% in the second quarter. State Street Corp now owns 3,708,788 shares of the biotechnology company’s stock valued at $25,186,000 after buying an additional 1,110,067 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.
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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