Progenics Pharmaceuticals’ (PGNX) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Progenics Pharmaceuticals (NASDAQ:PGNX)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday, January 17th. They presently have a $15.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 176.75% from the company’s previous close.

PGNX has been the subject of several other research reports. ValuEngine downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.35.

Progenics Pharmaceuticals (NASDAQ:PGNX) traded up $0.07 on Wednesday, reaching $5.42. 1,251,884 shares of the company traded hands, compared to its average volume of 1,510,000. Progenics Pharmaceuticals has a 1-year low of $4.60 and a 1-year high of $11.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.86 and a quick ratio of 7.86. The company has a market capitalization of $380.86, a PE ratio of -6.86 and a beta of 3.40.

Several institutional investors have recently bought and sold shares of PGNX. BlackRock Inc. lifted its holdings in shares of Progenics Pharmaceuticals by 2.1% in the 4th quarter. BlackRock Inc. now owns 9,996,741 shares of the biotechnology company’s stock worth $59,482,000 after purchasing an additional 202,932 shares in the last quarter. Vanguard Group Inc. raised its position in Progenics Pharmaceuticals by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,300,478 shares of the biotechnology company’s stock valued at $29,200,000 after buying an additional 167,708 shares during the last quarter. Eagle Asset Management Inc. raised its position in Progenics Pharmaceuticals by 3.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 4,166,919 shares of the biotechnology company’s stock valued at $32,210,000 after buying an additional 154,553 shares during the last quarter. State Street Corp raised its position in Progenics Pharmaceuticals by 42.7% in the 2nd 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. Finally, Phocas Financial Corp. raised its position in Progenics Pharmaceuticals by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 1,466,748 shares of the biotechnology company’s stock valued at $9,959,000 after buying an additional 65,491 shares during the last quarter. Hedge funds and other institutional investors own 84.65% of the company’s stock.

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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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