Progenics Pharmaceuticals Inc. (PGNX) Coverage Initiated by Analysts at Brean Capital
Brean Capital initiated coverage on shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) in a report issued on Tuesday morning. The brokerage issued a buy rating and a $11.00 target price on the stock.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a hold rating to a buy rating and set a $6.75 price objective on the stock in a report on Tuesday, July 26th. BTIG Research reiterated a buy rating and issued a $9.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday, July 20th. Jefferies Group reiterated a buy rating on shares of Progenics Pharmaceuticals in a report on Friday, June 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $11.00 price objective on shares of Progenics Pharmaceuticals in a report on Friday, July 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Progenics Pharmaceuticals currently has a consensus rating of Buy and an average price target of $9.35.
Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 0.780% during mid-day trading on Tuesday, reaching $6.995. 201,616 shares of the company’s stock were exchanged. Progenics Pharmaceuticals has a 52-week low of $3.61 and a 52-week high of $8.37. The stock’s market cap is $489.55 million. The stock’s 50-day moving average is $6.35 and its 200-day moving average is $5.39.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Progenics Pharmaceuticals had a negative net margin of 203.56% and a negative return on equity of 41.76%. The company had revenue of $8.50 million for the quarter, compared to the consensus estimate of $6.33 million. During the same period last year, the company earned ($0.17) earnings per share. The firm’s revenue was up 337.6% compared to the same quarter last year. On average, equities analysts expect that Progenics Pharmaceuticals will post $0.13 EPS for the current year.
A number of institutional investors have recently modified their holdings of PGNX. Vanguard Group Inc. increased its position in shares of Progenics Pharmaceuticals by 9.7% in the second quarter. Vanguard Group Inc. now owns 2,737,391 shares of the company’s stock worth $11,552,000 after buying an additional 241,227 shares during the last quarter. A.R.T. Advisors LLC increased its position in Progenics Pharmaceuticals by 241.6% in the first quarter. A.R.T. Advisors LLC now owns 307,523 shares of the company’s stock valued at $1,340,000 after buying an additional 217,500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Progenics Pharmaceuticals by 111.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 217,100 shares of the company’s stock valued at $917,000 after buying an additional 114,500 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Progenics Pharmaceuticals during the second quarter valued at approximately $278,000. Finally, Rice Hall James & Associates LLC increased its position in Progenics Pharmaceuticals by 4.9% in the second quarter. Rice Hall James & Associates LLC now owns 964,797 shares of the company’s stock valued at $4,071,000 after buying an additional 44,906 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.
Progenics Pharmaceuticals Company Profile
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s products in development include therapeutic agents designed to target cancer and imaging agents, which focuses on enabling clinicians and patients to accurately visualize and manage their diseases.
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