Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) has earned an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.00.

PGNX has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Needham & Company LLC reaffirmed a “strong-buy” rating on shares of Progenics Pharmaceuticals in a report on Monday, April 24th. Cantor Fitzgerald initiated coverage on shares of Progenics Pharmaceuticals in a report on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th.

A number of institutional investors have recently made changes to their positions in PGNX. BNP Paribas Arbitrage SA boosted its position in shares of Progenics Pharmaceuticals by 1,077.2% in the first quarter. BNP Paribas Arbitrage SA now owns 12,961 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 11,860 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Progenics Pharmaceuticals by 92.2% in the first quarter. Bank of New York Mellon Corp now owns 1,098,566 shares of the biotechnology company’s stock valued at $10,370,000 after buying an additional 526,905 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Progenics Pharmaceuticals by 724.2% in the first quarter. Great West Life Assurance Co. Can now owns 100,558 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 88,358 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Progenics Pharmaceuticals during the first quarter valued at about $215,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Progenics Pharmaceuticals during the first quarter valued at about $1,899,000. 92.20% of the stock is currently owned by institutional investors.

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Shares of Progenics Pharmaceuticals (PGNX) opened at 5.63 on Friday. The stock has a 50 day moving average of $6.49 and a 200-day moving average of $8.17. Progenics Pharmaceuticals has a 1-year low of $4.60 and a 1-year high of $11.72. The firm’s market cap is $395.24 million.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its 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 business had revenue of $2.77 million during the quarter, compared to analyst estimates of $3.34 million. Progenics Pharmaceuticals had a negative net margin of 6.13% and a negative return on equity of 4.11%. The business’s revenue was down 67.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. Equities analysts anticipate that Progenics Pharmaceuticals will post ($0.87) EPS for the current fiscal year.

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.

Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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