Zacks Investment Research lowered shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a hold rating to a sell rating in a research report report published on Saturday.
According to Zacks, “Progenics Pharmaceuticals, Inc. is developing innovative medicines for oncology, with a pipeline that includes several product candidates in later-stage clinical development. Progenics’ first-in-class PSMA-targeted technology platform for prostate cancer includes an antibody drug conjugate therapeutic in a two-cohort phase 2 clinical trial and a small molecule imaging agent that has completed patient dosing in a phase 2 trial. Among other assets in its pipeline of targeted radiotherapy and molecular imaging compounds is Azedra(TM), an ultra-orphan radiotherapy candidate also in a phase 2 study under an SPA. Progenics’ first commercial product, Relistor(R) (methylnaltrexone bromide) for opioid-induced constipation, is partnered with and marketed by Salix Pharmaceuticals, Inc. “
PGNX has been the topic of several other research reports. BidaskClub upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, December 9th. Cantor Fitzgerald set a $15.00 price target on shares of Progenics Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, January 2nd. Finally, ValuEngine cut shares of Progenics Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the company. Progenics Pharmaceuticals currently has an average rating of Buy and an average target price of $12.35.
PGNX opened at $7.23 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 6.31 and a current ratio of 6.31. Progenics Pharmaceuticals has a fifty-two week low of $4.60 and a fifty-two week high of $8.63. The firm has a market cap of $515.17, a P/E ratio of -8.03 and a beta of 2.45.
Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). Progenics Pharmaceuticals had a negative net margin of 436.08% and a negative return on equity of 87.30%. The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $3.18 million. During the same quarter in the previous year, the company earned ($0.10) EPS. Progenics Pharmaceuticals’s revenue for the quarter was down 15.2% on a year-over-year basis. equities analysts expect that Progenics Pharmaceuticals will post -0.8 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of PGNX. Fox Run Management L.L.C. bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth about $100,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth about $101,000. Teacher Retirement System of Texas bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth about $142,000. Millennium Management LLC bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth about $169,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth about $192,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.
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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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