Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $4.00 and last traded at $3.86, 1,422,894 shares traded hands during mid-day trading. An increase of 41% from the average session volume of 1,009,478 shares. The stock had previously closed at $3.67.
A number of equities research analysts have issued reports on the stock. Brookline Capital Management assumed coverage on shares of Progenics Pharmaceuticals in a research report on Monday, July 29th. They issued a “buy” rating and a $10.00 target price for the company. BTIG Research set a $14.00 price target on shares of Progenics Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday. BidaskClub upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $9.55.
The company’s 50 day moving average price is $4.94 and its 200 day moving average price is $4.78. The company has a market cap of $317.17 million, a price-to-earnings ratio of -6.81 and a beta of 2.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.25 and a current ratio of 4.25.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). Progenics Pharmaceuticals had a negative return on equity of 65.17% and a negative net margin of 339.86%. The business had revenue of $9.97 million for the quarter, compared to analyst estimates of $6.40 million. On average, equities research analysts forecast that Progenics Pharmaceuticals, Inc. will post -1 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC acquired a new position in Progenics Pharmaceuticals in the 2nd quarter valued at $35,000. Pinebridge Investments L.P. acquired a new position in Progenics Pharmaceuticals in the 2nd quarter valued at $40,000. Crossmark Global Holdings Inc. acquired a new position in Progenics Pharmaceuticals in the 2nd quarter valued at $62,000. Cubist Systematic Strategies LLC grew its stake in Progenics Pharmaceuticals by 1,825.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 9,600 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Progenics Pharmaceuticals by 437.9% in the 2nd quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 10,002 shares during the last quarter. Institutional investors own 76.76% of the company’s stock.
About Progenics Pharmaceuticals (NASDAQ:PGNX)
Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.
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