Progenics Pharmaceuticals Inc. (PGNX) Sees Unusually-High Trading Volume
Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) saw strong trading volume on Wednesday . 13,673,293 shares changed hands during trading, an increase of 504% from the previous session’s volume of 2,264,315 shares.The stock last traded at $6.22 and had previously closed at $4.94.
Several analysts recently issued reports on the stock. Brean Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Friday, May 6th. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Progenics Pharmaceuticals in a report on Monday, April 4th. Jefferies Group reaffirmed a “buy” rating and set a $9.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday, April 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $9.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.35.
The company’s market capitalization is $425.97 million. The firm’s 50 day moving average price is $4.86 and its 200 day moving average price is $4.70.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.05. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. The business had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $3.27 million. The business’s quarterly revenue was up 908.1% on a year-over-year basis. On average, analysts predict that Progenics Pharmaceuticals Inc. will post $0.12 earnings per share for the current year.
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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