Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) fell 5.5% on Monday . The stock traded as low as $5.06 and last traded at $5.11. 1,427,906 shares changed hands during trading, an increase of 24% from the average session volume of 1,153,663 shares. The stock had previously closed at $5.41.

Several brokerages recently weighed in on PGNX. ValuEngine upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research note on Thursday, January 4th. BidaskClub downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Cantor Fitzgerald restated a “buy” rating and set a $15.00 target price on shares of Progenics Pharmaceuticals in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.35.

The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $376.65, a PE ratio of -6.78 and a beta of 3.40.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 67.61% and a negative net margin of 445.81%. The company had revenue of $2.70 million during the quarter, compared to the consensus estimate of $3.58 million. During the same quarter last year, the company earned $0.52 EPS. The company’s quarterly revenue was down 95.0% on a year-over-year basis. analysts predict that Progenics Pharmaceuticals, Inc. will post -0.92 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of Progenics Pharmaceuticals by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,600 shares of the biotechnology company’s stock worth $412,000 after acquiring an additional 1,868 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of Progenics Pharmaceuticals by 6.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 42,380 shares of the biotechnology company’s stock worth $288,000 after buying an additional 2,710 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Progenics Pharmaceuticals by 12.4% in the 2nd quarter. Voya Investment Management LLC now owns 35,657 shares of the biotechnology company’s stock worth $242,000 after buying an additional 3,920 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Progenics Pharmaceuticals by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 26,350 shares of the biotechnology company’s stock worth $194,000 after buying an additional 9,750 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Progenics Pharmaceuticals by 11.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 113,071 shares of the biotechnology company’s stock worth $768,000 after buying an additional 11,822 shares in the last quarter. Institutional investors own 84.65% of the company’s stock.

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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.

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