Progenics Pharmaceuticals (NASDAQ:PGNX) Trading Down 5.3%

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)’s share price fell 5.3% during mid-day trading on Thursday . The company traded as low as $3.54 and last traded at $3.60, 684,192 shares changed hands during trading. A decline of 32% from the average session volume of 1,008,807 shares. The stock had previously closed at $3.80.

A number of brokerages have issued reports on PGNX. UBS Group reaffirmed a “positive” rating on shares of Progenics Pharmaceuticals in a research report on Thursday, June 20th. BidaskClub cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Brookline Capital Management began coverage on Progenics Pharmaceuticals in a research report on Monday, July 29th. They set a “buy” rating and a $10.00 target price for the company. Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, BTIG Research set a $14.00 target price on Progenics Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.55.

The company has a market capitalization of $337.04 million, a price-to-earnings ratio of -5.71 and a beta of 2.76. The business has a fifty day moving average price of $5.27 and a 200 day moving average price of $4.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.81 and a quick ratio of 4.81.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Progenics Pharmaceuticals had a negative return on equity of 60.76% and a negative net margin of 339.86%. The business had revenue of $9.97 million for the quarter, compared to analyst estimates of $6.40 million. As a group, sell-side analysts predict that Progenics Pharmaceuticals, Inc. will post -1 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Progenics Pharmaceuticals by 89.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 85,367 shares of the biotechnology company’s stock valued at $359,000 after buying an additional 40,297 shares during the last quarter. Stifel Financial Corp grew its position in shares of Progenics Pharmaceuticals by 92.0% in the 4th quarter. Stifel Financial Corp now owns 40,404 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 19,361 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Progenics Pharmaceuticals by 11.8% in the 4th quarter. Geode Capital Management LLC now owns 943,271 shares of the biotechnology company’s stock valued at $3,961,000 after buying an additional 99,428 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Progenics Pharmaceuticals by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 709,721 shares of the biotechnology company’s stock valued at $2,981,000 after buying an additional 8,257 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Progenics Pharmaceuticals by 414.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,521 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 22,171 shares during the last quarter. Institutional investors own 79.93% of the company’s stock.

About Progenics Pharmaceuticals (NASDAQ:PGNX)

Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.

Featured Article: Channel Trading

Receive News & Ratings for Progenics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progenics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply