Progenics Pharmaceuticals (NASDAQ:PGNX) has been assigned a $15.00 price target by stock analysts at Cantor Fitzgerald in a report released on Sunday. The firm presently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 100.00% from the company’s previous close.
The analysts wrote, “. We maintain an Overweight rating and 12-month PT of $15 on the shares of PGNX. Although we like the rare disease opportunity for AZEDRA (PDUFA 7/30), we also like the PSMA-targeted pipeline for prostate cancer. Moreover, what we have come to appreciate in the PGNX story is the optionality of the pipeline, which extends to the potential for out-licensing, financing and clinical development.””
A number of other analysts have also recently commented on PGNX. BidaskClub cut shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $12.35.
Shares of PGNX opened at $7.50 on Friday. The company has a current ratio of 6.44, a quick ratio of 6.44 and a debt-to-equity ratio of 0.74. The firm has a market cap of $532.99 million, a price-to-earnings ratio of -8.33 and a beta of 2.52. Progenics Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $8.63.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Wednesday, May 9th. The biotechnology company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.04. The business had revenue of $3.19 million for the quarter, compared to analysts’ expectations of $4.10 million. Progenics Pharmaceuticals had a negative net margin of 383.39% and a negative return on equity of 92.43%. sell-side analysts predict that Progenics Pharmaceuticals will post -0.59 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of PGNX. Fox Run Management L.L.C. bought a new stake in Progenics Pharmaceuticals during the fourth quarter valued at $100,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Progenics Pharmaceuticals during the 4th quarter worth about $101,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Progenics Pharmaceuticals during the 1st quarter worth about $117,000. Teacher Retirement System of Texas bought a new position in shares of Progenics Pharmaceuticals during the 4th quarter worth about $142,000. Finally, Millennium Management LLC bought a new position in shares of Progenics Pharmaceuticals during the 4th quarter worth about $169,000. 86.46% of the stock is currently owned by institutional investors and hedge funds.
Progenics Pharmaceuticals Company Profile
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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