Progenics Pharmaceuticals (PGNX) Shares Down 7.7%

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Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) shares were down 7.7% on Monday . The stock traded as low as $4.29 and last traded at $4.29. Approximately 946,488 shares traded hands during trading, a decline of 18% from the average daily volume of 1,156,780 shares. The stock had previously closed at $4.65.

Several research analysts recently weighed in on PGNX shares. Zacks Investment Research raised Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Thursday, February 21st. BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.35.

The stock has a market cap of $393.11 million, a price-to-earnings ratio of -6.81 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.81 and a quick ratio of 4.81.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 61.96% and a negative net margin of 436.57%. The company had revenue of $4.28 million for the quarter, compared to analyst estimates of $3.71 million. As a group, equities research analysts anticipate that Progenics Pharmaceuticals, Inc. will post -0.71 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley increased its position in Progenics Pharmaceuticals by 31.2% in the 1st quarter. Morgan Stanley now owns 530,782 shares of the biotechnology company’s stock worth $2,463,000 after purchasing an additional 126,209 shares during the last quarter. Man Group plc acquired a new position in Progenics Pharmaceuticals in the 1st quarter worth about $88,000. Jefferies Group LLC acquired a new position in Progenics Pharmaceuticals in the 1st quarter worth about $89,000. Geode Capital Management LLC increased its position in Progenics Pharmaceuticals by 5.7% in the 1st quarter. Geode Capital Management LLC now owns 997,020 shares of the biotechnology company’s stock worth $4,626,000 after purchasing an additional 53,749 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Progenics Pharmaceuticals by 7.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 483,468 shares of the biotechnology company’s stock worth $2,244,000 after purchasing an additional 33,478 shares during the last quarter. 88.01% of the stock is currently owned by institutional investors.

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Progenics Pharmaceuticals Company Profile (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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