Progenics Pharmaceuticals’ (PGNX) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Progenics Pharmaceuticals (NASDAQ:PGNX) in a research report released on Wednesday morning. The firm currently has a $15.00 target price on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a hold rating to a buy rating and set a $6.75 price objective on the stock in a report on Thursday, January 4th. BidaskClub upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, December 9th. Finally, ValuEngine upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Progenics Pharmaceuticals currently has an average rating of Buy and an average target price of $12.35.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down $0.12 during mid-day trading on Wednesday, hitting $6.10. 599,942 shares of the stock traded hands, compared to its average volume of 1,175,025. The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.86 and a current ratio of 7.86. Progenics Pharmaceuticals has a 52-week low of $4.60 and a 52-week high of $11.72. The firm has a market cap of $428.65, a price-to-earnings ratio of -7.72 and a beta of 3.42.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The firm had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.58 million. During the same period in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was down 95.0% compared to the same quarter last year. analysts forecast that Progenics Pharmaceuticals will post -0.92 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in PGNX. Fox Run Management L.L.C. acquired a new stake in Progenics Pharmaceuticals during the 4th quarter worth approximately $100,000. Piedmont Investment Advisors LLC acquired a new stake in Progenics Pharmaceuticals during the 2nd quarter worth approximately $103,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Progenics Pharmaceuticals during the 2nd quarter worth approximately $108,000. Aperio Group LLC acquired a new stake in Progenics Pharmaceuticals during the 3rd quarter worth approximately $118,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Progenics Pharmaceuticals by 58.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock worth $140,000 after buying an additional 7,604 shares in the last quarter. Institutional investors own 84.55% of the company’s stock.

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Progenics Pharmaceuticals Company Profile

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.

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