Q3 2018 EPS Estimates for Progenics Pharmaceuticals, Inc. Increased by Jefferies Financial Group (PGNX)

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) – Equities researchers at Jefferies Financial Group raised their Q3 2018 EPS estimates for shares of Progenics Pharmaceuticals in a research report issued on Thursday, September 13th. Jefferies Financial Group analyst B. Amin now anticipates that the biotechnology company will post earnings per share of ($0.19) for the quarter, up from their prior forecast of ($0.20). Jefferies Financial Group currently has a “Buy” rating and a $13.00 price objective on the stock. Jefferies Financial Group also issued estimates for Progenics Pharmaceuticals’ Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.75) EPS, FY2019 earnings at ($0.21) EPS, FY2020 earnings at $0.15 EPS, FY2021 earnings at $0.60 EPS and FY2022 earnings at $0.95 EPS.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Tuesday, July 31st. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The company had revenue of $3.88 million during the quarter, compared to analysts’ expectations of $3.30 million. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%.

Several other equities analysts have also recently commented on the company. ValuEngine cut Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Needham & Company LLC cut Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating and reduced their target price for the company from $16.00 to $12.00 in a research note on Thursday, September 13th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, BidaskClub cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Progenics Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $11.69.

NASDAQ PGNX opened at $5.88 on Monday. The company has a market capitalization of $550.12 million, a price-to-earnings ratio of -6.26 and a beta of 2.39. Progenics Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.34 and a quick ratio of 6.34.

Several institutional investors have recently added to or reduced their stakes in PGNX. BlackRock Inc. raised its position in shares of Progenics Pharmaceuticals by 14.0% during the 2nd quarter. BlackRock Inc. now owns 11,391,237 shares of the biotechnology company’s stock valued at $91,584,000 after acquiring an additional 1,401,564 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Progenics Pharmaceuticals by 7.5% during the 1st quarter. Eagle Asset Management Inc. now owns 4,470,838 shares of the biotechnology company’s stock valued at $33,352,000 after acquiring an additional 310,078 shares in the last quarter. Carillon Tower Advisers Inc. raised its position in shares of Progenics Pharmaceuticals by 7.8% during the 1st quarter. Carillon Tower Advisers Inc. now owns 3,948,024 shares of the biotechnology company’s stock valued at $28,070,000 after acquiring an additional 285,906 shares in the last quarter. Rice Hall James & Associates LLC raised its position in shares of Progenics Pharmaceuticals by 1.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 1,389,840 shares of the biotechnology company’s stock valued at $11,174,000 after acquiring an additional 15,378 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Progenics Pharmaceuticals by 1.3% during the 2nd quarter. Royce & Associates LP now owns 1,177,256 shares of the biotechnology company’s stock valued at $9,465,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.

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.

Further Reading: Price to Earnings Ratio (PE)

Earnings History and Estimates for Progenics Pharmaceuticals (NASDAQ:PGNX)

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