UBS Group AG Sells 31,387 Shares of Progenics Pharmaceuticals Inc. (PGNX)
UBS Group AG cut its stake in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 72.4% during the first quarter, Holdings Channel reports. The fund owned 11,950 shares of the biotechnology company’s stock after selling 31,387 shares during the period. UBS Group AG’s holdings in Progenics Pharmaceuticals were worth $113,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PGNX. Vanguard Group Inc. increased its stake in Progenics Pharmaceuticals by 46.1% in the first quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock valued at $39,013,000 after buying an additional 1,304,487 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 during the period. Geode Capital Management LLC raised its position in Progenics Pharmaceuticals by 8.1% in the first quarter. Geode Capital Management LLC now owns 638,633 shares of the biotechnology company’s stock valued at $6,028,000 after buying an additional 47,907 shares during the period. Principal Financial Group Inc. raised its position in Progenics Pharmaceuticals by 4,297.7% in the first quarter. Principal Financial Group Inc. now owns 547,202 shares of the biotechnology company’s stock valued at $5,165,000 after buying an additional 534,759 shares during the period. Finally, Oxford Asset Management raised its position in Progenics Pharmaceuticals by 65.6% in the first quarter. Oxford Asset Management now owns 456,033 shares of the biotechnology company’s stock valued at $4,305,000 after buying an additional 180,618 shares during the period. Hedge funds and other institutional investors own 92.20% of the company’s stock.
Progenics Pharmaceuticals Inc. (NASDAQ PGNX) traded up 5.63% during trading on Friday, reaching $5.63. The company’s stock had a trading volume of 1,622,633 shares. The stock’s market capitalization is $395.24 million. The stock has a 50 day moving average price of $6.49 and a 200 day moving average price of $8.17. Progenics Pharmaceuticals Inc. has a 1-year low of $4.60 and a 1-year high of $11.72.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.04. The company 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%. Progenics Pharmaceuticals’s revenue for the quarter was down 67.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. Analysts anticipate that Progenics Pharmaceuticals Inc. will post ($0.87) earnings per share for the current fiscal year.
Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “strong-buy” rating on shares of Progenics Pharmaceuticals in a research note on Monday, April 24th. Zacks Investment Research lowered Progenics Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Wednesday, May 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. Cantor Fitzgerald assumed coverage on Progenics Pharmaceuticals in a research note on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, BidaskClub lowered Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $12.33.
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.
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