BidaskClub downgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Progenics Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, August 29th. Zacks Investment Research raised Progenics Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, September 25th. Finally, Needham & Company LLC cut Progenics Pharmaceuticals from a strong-buy rating to a buy rating and reduced their price objective for the company from $16.00 to $12.00 in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of Buy and a consensus target price of $10.65.
Progenics Pharmaceuticals stock traded down $0.17 during trading hours on Friday, reaching $4.56. 1,643,497 shares of the company were exchanged, compared to its average volume of 1,111,495. The stock has a market capitalization of $399.89 million, a P/E ratio of -5.07 and a beta of 2.67. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.33. Progenics Pharmaceuticals has a 12 month low of $4.47 and a 12 month high of $9.42.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Thursday, November 8th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Progenics Pharmaceuticals had a negative return on equity of 66.86% and a negative net margin of 341.78%. The firm had revenue of $5.32 million during the quarter, compared to analysts’ expectations of $4.14 million. Sell-side analysts anticipate that Progenics Pharmaceuticals will post -0.76 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Progenics Pharmaceuticals by 16.8% during the third quarter. Vanguard Group Inc. now owns 5,046,431 shares of the biotechnology company’s stock worth $31,641,000 after acquiring an additional 727,575 shares in the last quarter. Legal & General Group Plc raised its stake in Progenics Pharmaceuticals by 23.2% during the third quarter. Legal & General Group Plc now owns 179,219 shares of the biotechnology company’s stock worth $1,119,000 after acquiring an additional 33,799 shares in the last quarter. Teachers Advisors LLC raised its stake in Progenics Pharmaceuticals by 6.9% during the third quarter. Teachers Advisors LLC now owns 241,655 shares of the biotechnology company’s stock worth $1,515,000 after acquiring an additional 15,696 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in Progenics Pharmaceuticals by 57.8% during the third quarter. MetLife Investment Advisors LLC now owns 50,896 shares of the biotechnology company’s stock worth $319,000 after acquiring an additional 18,633 shares in the last quarter. Finally, Man Group plc raised its stake in Progenics Pharmaceuticals by 163.0% during the third quarter. Man Group plc now owns 30,937 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 19,173 shares in the last quarter. Institutional investors and hedge funds own 92.09% 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.
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