Progenics Pharmaceuticals Inc. (PGNX) Shares Gap Up to $7.10

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.61, but opened at $7.10. Progenics Pharmaceuticals shares last traded at $6.92, with a volume of 1,183,731 shares trading hands.

Several equities analysts have recently commented on PGNX shares. Aegis reaffirmed a “buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a research report on Tuesday, August 22nd. Cantor Fitzgerald set a $15.00 target price on Progenics Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a research report on Thursday, June 8th. TheStreet downgraded Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research report on Friday, May 26th. Finally, Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $12.83.

The stock’s market cap is $503.83 million. The company’s 50-day moving average is $5.98 and its 200-day moving average is $7.47.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The company had revenue of $2.77 million during the quarter, compared to the consensus estimate of $3.34 million. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The company’s revenue for the quarter was down 67.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. On average, analysts expect that Progenics Pharmaceuticals Inc. will post ($0.90) EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at $103,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at $108,000. Municipal Employees Retirement System of Michigan raised its holdings in Progenics Pharmaceuticals by 4.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,600 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 640 shares during the period. LS Investment Advisors LLC raised its holdings in Progenics Pharmaceuticals by 473.8% during the 2nd quarter. LS Investment Advisors LLC now owns 16,897 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 13,952 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Progenics Pharmaceuticals by 1,077.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,961 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 11,860 shares during the period. 89.17% of the stock is currently owned by institutional investors and hedge funds.

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Progenics Pharmaceuticals Company Profile

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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