Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) gapped down prior to trading on Friday . The stock had previously closed at $6.14, but opened at $5.97. Progenics Pharmaceuticals shares last traded at $5.90, with a volume of 49921 shares changing hands.

A number of analysts have recently weighed in on the stock. ValuEngine cut shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Cantor Fitzgerald set a $15.00 price target on shares of Progenics Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, May 20th. BidaskClub cut shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 19th. Needham & Company LLC raised their price target on shares of Progenics Pharmaceuticals from $14.00 to $16.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Progenics Pharmaceuticals in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Progenics Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $11.69.

The company has a market capitalization of $550.12 million, a P/E ratio of -6.50 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in Progenics Pharmaceuticals by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,981 shares of the biotechnology company’s stock worth $8,546,000 after purchasing an additional 24,073 shares in the last quarter. Millennium Management LLC boosted its stake in Progenics Pharmaceuticals by 312.3% in the 2nd quarter. Millennium Management LLC now owns 119,350 shares of the biotechnology company’s stock worth $960,000 after purchasing an additional 90,400 shares in the last quarter. Raymond James & Associates boosted its stake in Progenics Pharmaceuticals by 24.3% in the 2nd quarter. Raymond James & Associates now owns 71,586 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 14,008 shares in the last quarter. Employees Retirement System of Texas boosted its stake in Progenics Pharmaceuticals by 21.9% in the 2nd quarter. Employees Retirement System of Texas now owns 139,000 shares of the biotechnology company’s stock worth $1,118,000 after purchasing an additional 25,000 shares in the last quarter. Finally, NumerixS Investment Technologies Inc boosted its stake in Progenics Pharmaceuticals by 163.3% in the 2nd 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 in the last quarter. Institutional investors own 88.74% of the company’s stock.

Progenics Pharmaceuticals Company Profile (NASDAQ:PGNX)

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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