Progenics Pharmaceuticals Inc. (PGNX) Shares Down 6.8%
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) shares fell 6.8% during trading on Friday . The stock traded as low as $6.04 and last traded at $6.27, with a volume of 1,957,210 shares changing hands. The stock had previously closed at $6.73.
Several research firms recently commented on PGNX. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Cantor Fitzgerald began coverage on shares of Progenics Pharmaceuticals in a research report on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 price objective for the company. BidaskClub downgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research report on Friday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Progenics Pharmaceuticals in a research report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $12.83.
The company’s market capitalization is $440.59 million. The firm has a 50 day moving average price of $6.08 and a 200-day moving average price of $7.82.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly 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. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The business had revenue of $2.77 million for the quarter, compared to analyst estimates of $3.34 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was down 67.3% compared to the same quarter last year. On average, analysts expect that Progenics Pharmaceuticals Inc. will post ($0.90) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in PGNX. JPMorgan Chase & Co. purchased a new stake in Progenics Pharmaceuticals during the first quarter worth about $726,000. Goldman Sachs Group Inc. boosted its stake in Progenics Pharmaceuticals by 207.8% in the first quarter. Goldman Sachs Group Inc. now owns 834,742 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 563,534 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Progenics Pharmaceuticals during the first quarter worth about $453,000. Ameriprise Financial Inc. purchased a new stake in Progenics Pharmaceuticals during the first quarter worth about $3,472,000. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $10,370,000 after buying an additional 526,905 shares in the last quarter. Institutional investors and hedge funds own 89.17% of the company’s stock.
About Progenics Pharmaceuticals
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.