ValuEngine downgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a buy rating to a hold rating in a research note released on Thursday.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Progenics Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 4th. BidaskClub cut Progenics Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, June 19th. Jefferies Financial Group restated a buy rating and set a $13.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Needham & Company LLC restated a strong-buy rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Finally, Cantor Fitzgerald set a $15.00 price objective on Progenics Pharmaceuticals and gave the stock a buy rating in a report on Sunday, May 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $11.69.

Progenics Pharmaceuticals stock traded down $0.19 during mid-day trading on Thursday, hitting $5.80. 23,989 shares of the company were exchanged, compared to its average volume of 946,335. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34. The company has a market capitalization of $550.12 million, a price-to-earnings ratio of -6.50 and a beta of 2.39. Progenics Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $9.42.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Tuesday, July 31st. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The company had revenue of $3.88 million for the quarter, compared to analysts’ expectations of $3.30 million. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%. analysts forecast that Progenics Pharmaceuticals will post -0.64 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. AJ Wealth Strategies LLC acquired a new stake in shares of Progenics Pharmaceuticals during the second quarter worth $113,000. Clinton Group Inc. acquired a new stake in shares of Progenics Pharmaceuticals during the second quarter worth $121,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Progenics Pharmaceuticals during the second quarter worth $125,000. NumerixS Investment Technologies Inc boosted its holdings in shares of Progenics Pharmaceuticals by 163.3% during the second quarter. NumerixS Investment Technologies Inc now owns 15,800 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Progenics Pharmaceuticals during the second quarter worth $160,000. Institutional investors and hedge funds own 88.74% of the company’s stock.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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