Cantor Fitzgerald Reiterates “Buy” Rating for Progenics Pharmaceuticals (PGNX)

Progenics Pharmaceuticals (NASDAQ:PGNX)‘s stock had its “buy” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. They currently have a $15.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 145.90% from the company’s current price.

Several other equities research analysts also recently weighed in on PGNX. ValuEngine downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Progenics Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $12.35.

Progenics Pharmaceuticals (NASDAQ PGNX) opened at $6.10 on Wednesday. The company has a current ratio of 7.86, a quick ratio of 7.86 and a debt-to-equity ratio of 0.80. The stock has a market cap of $428.65, a P/E ratio of -7.72 and a beta of 3.42. 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 earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.58 million. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The company’s revenue for the quarter was down 95.0% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. research analysts predict that Progenics Pharmaceuticals will post -0.92 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fox Run Management L.L.C. acquired a new stake in Progenics Pharmaceuticals in the fourth quarter valued at $100,000. Piedmont Investment Advisors LLC acquired a new stake in Progenics Pharmaceuticals in the second quarter valued at $103,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Progenics Pharmaceuticals in the second quarter valued at $108,000. Aperio Group LLC acquired a new stake in Progenics Pharmaceuticals in the third quarter valued at $118,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Progenics Pharmaceuticals by 58.7% in the second quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 7,604 shares during the period. 84.55% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/01/19/cantor-fitzgerald-reiterates-buy-rating-for-progenics-pharmaceuticals-pgnx.html.

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.

Receive News & Ratings for Progenics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progenics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply