Progenics Pharmaceuticals, Inc. (PGNX) Receives Consensus Recommendation of “Buy” from Analysts

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.33.

Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 19th. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. 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 Sunday, May 20th. Finally, Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 11th.

Shares of NASDAQ:PGNX opened at $8.12 on Tuesday. Progenics Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $9.12. The company has a current ratio of 6.44, a quick ratio of 6.44 and a debt-to-equity ratio of 0.74.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Wednesday, May 9th. The biotechnology company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.04. Progenics Pharmaceuticals had a negative net margin of 383.39% and a negative return on equity of 92.43%. The firm had revenue of $3.19 million for the quarter, compared to analyst estimates of $4.10 million. research analysts forecast that Progenics Pharmaceuticals will post -0.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PGNX. Metropolitan Life Insurance Co. NY acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at $101,000. Campbell & CO Investment Adviser LLC acquired a new position in Progenics Pharmaceuticals in the first quarter valued at $117,000. Teacher Retirement System of Texas acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at $142,000. Millennium Management LLC acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at $169,000. Finally, MetLife Investment Advisors LLC acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at $192,000. Institutional investors own 86.94% of the company’s stock.

About Progenics Pharmaceuticals

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.

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