TIAA CREF Investment Management LLC Increases Position in Progenics Pharmaceuticals Inc. (PGNX)

TIAA CREF Investment Management LLC boosted its position in Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 47.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 282,978 shares of the biotechnology company’s stock after acquiring an additional 91,437 shares during the period. TIAA CREF Investment Management LLC owned 0.40% of Progenics Pharmaceuticals worth $1,921,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PGNX. BlackRock Inc. raised its stake in Progenics Pharmaceuticals by 149,468.9% in the 1st quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock valued at $89,897,000 after acquiring an additional 9,516,686 shares during the period. Eagle Asset Management Inc. raised its stake in Progenics Pharmaceuticals by 50.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 4,012,366 shares of the biotechnology company’s stock valued at $27,243,000 after acquiring an additional 1,352,245 shares during the period. Vanguard Group Inc. raised its stake in Progenics Pharmaceuticals by 46.1% in the 1st quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock valued at $39,013,000 after acquiring an additional 1,304,487 shares during the period. Goldman Sachs Group Inc. raised its stake in Progenics Pharmaceuticals by 207.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 834,742 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 563,534 shares during the period. Finally, State Street Corp raised its stake in Progenics Pharmaceuticals by 26.1% in the 1st quarter. State Street Corp now owns 2,598,721 shares of the biotechnology company’s stock valued at $24,534,000 after acquiring an additional 537,739 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.

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Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The firm had revenue of $2.77 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share.

A number of equities research analysts recently issued reports on PGNX shares. Aegis restated a “buy” rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. Cantor Fitzgerald set a $15.00 price objective on Progenics Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Finally, BidaskClub cut Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Progenics Pharmaceuticals has an average rating of “Hold” and an average price target of $13.20.

Progenics Pharmaceuticals 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.

Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

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