Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have been given a consensus rating of “Buy” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.50.

PGNX has been the topic of several recent research reports. BidaskClub lowered shares of Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, UBS Group upgraded shares of to a “neutral” rating and lifted their price target for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a research report on Thursday, June 20th.

A number of institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund boosted its stake in Progenics Pharmaceuticals by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 57,403 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 2,079 shares during the period. New York State Common Retirement Fund boosted its stake in Progenics Pharmaceuticals by 2.0% in the 4th quarter. New York State Common Retirement Fund now owns 179,738 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 3,500 shares during the period. Comerica Bank boosted its stake in Progenics Pharmaceuticals by 4.4% in the 1st quarter. Comerica Bank now owns 83,763 shares of the biotechnology company’s stock worth $422,000 after purchasing an additional 3,547 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Progenics Pharmaceuticals by 23.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,500 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 5,000 shares during the period. Finally, BKS Advisors LLC boosted its stake in Progenics Pharmaceuticals by 4.5% in the 1st quarter. BKS Advisors LLC now owns 118,587 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 5,102 shares during the period. 80.71% of the stock is owned by hedge funds and other institutional investors.

Progenics Pharmaceuticals stock traded down $0.08 during mid-day trading on Friday, hitting $5.26. The company’s stock had a trading volume of 514,228 shares, compared to its average volume of 998,089. The company has a quick ratio of 4.81, a current ratio of 4.81 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $445.73 million, a PE ratio of -8.35 and a beta of 2.72. Progenics Pharmaceuticals has a twelve month low of $3.62 and a twelve month high of $9.42. The firm’s fifty day simple moving average is $5.06.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $4.28 million for the quarter, compared to analyst estimates of $3.71 million. Progenics Pharmaceuticals had a negative net margin of 436.57% and a negative return on equity of 61.96%.

Progenics Pharmaceuticals Company Profile

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.

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