Progenics Pharmaceuticals (PGNX) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a strong sell rating to a sell rating in a research note published on Tuesday.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Progenics Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, August 29th. Needham & Company LLC lifted their price objective on shares of Progenics Pharmaceuticals from $14.00 to $16.00 and gave the company a strong-buy rating in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, September 25th. Finally, Jefferies Financial Group restated a buy rating and issued a $13.00 price objective on shares of Progenics Pharmaceuticals in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Progenics Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $11.69.

NASDAQ PGNX opened at $5.30 on Tuesday. The company has a current ratio of 6.34, a quick ratio of 6.34 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $446.38 million, a price-to-earnings ratio of -5.89 and a beta of 2.81. Progenics Pharmaceuticals has a one year low of $4.68 and a one year high of $9.42.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Progenics Pharmaceuticals by 268.7% during the first quarter. JPMorgan Chase & Co. now owns 326,562 shares of the biotechnology company’s stock worth $2,436,000 after acquiring an additional 237,992 shares during the period. UBS Group AG increased its stake in shares of Progenics Pharmaceuticals by 4,046.3% during the first quarter. UBS Group AG now owns 118,044 shares of the biotechnology company’s stock worth $880,000 after acquiring an additional 115,197 shares during the period. Jane Street Group LLC increased its stake in shares of Progenics Pharmaceuticals by 296.0% during the first quarter. Jane Street Group LLC now owns 48,685 shares of the biotechnology company’s stock worth $363,000 after acquiring an additional 36,391 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Progenics Pharmaceuticals by 17.8% during the first quarter. Allianz Asset Management GmbH now owns 234,314 shares of the biotechnology company’s stock worth $1,748,000 after acquiring an additional 35,462 shares during the period. Finally, Clinton Group Inc. acquired a new position in shares of Progenics Pharmaceuticals during the second quarter worth about $121,000. Institutional investors own 76.39% 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.

Further Reading: Outstanding Shares and The Effect on Share Price

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