Progenics Pharmaceuticals (PGNX) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a sell rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday. Needham & Company LLC reissued a strong-buy rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Friday, September 1st. Cantor Fitzgerald reissued an overweight rating and issued a $15.00 price objective on shares of Progenics Pharmaceuticals in a research note on Tuesday, September 5th. Zacks Investment Research cut shares of Progenics Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, November 8th. Finally, Aegis reissued a buy rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Progenics Pharmaceuticals has a consensus rating of Buy and an average target price of $13.75.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded up $0.19 on Friday, hitting $6.17. 898,200 shares of the stock were exchanged, compared to its average volume of 547,997. The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.80. Progenics Pharmaceuticals has a 1-year low of $4.60 and a 1-year high of $11.72.

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

A number of hedge funds and other institutional investors have recently modified their holdings of PGNX. Piedmont Investment Advisors LLC acquired a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at about $103,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $108,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Progenics Pharmaceuticals by 4.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,600 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 640 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Progenics Pharmaceuticals by 473.8% during the 2nd quarter. LS Investment Advisors LLC now owns 16,897 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 13,952 shares during the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Progenics Pharmaceuticals during the 3rd quarter worth about $118,000. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

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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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