Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Given Average Rating of “Hold” by Analysts

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Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has received a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.17.

Several equities analysts recently weighed in on the company. ValuEngine downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Zacks Investment Research cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BTIG Research set a $14.00 price target on Progenics Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Brookline Capital Management started coverage on Progenics Pharmaceuticals in a report on Monday, July 29th. They set a “buy” rating and a $10.00 price target on the stock.

In other Progenics Pharmaceuticals news, insider Velan Capital, L.P. purchased 130,826 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $4.31 per share, with a total value of $563,860.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lte Partners, Llc purchased 21,480 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $4.94 per share, for a total transaction of $106,111.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 677,306 shares of company stock worth $2,968,406. Insiders own 4.26% of the company’s stock.

Several hedge funds have recently modified their holdings of PGNX. Farallon Capital Management LLC increased its holdings in shares of Progenics Pharmaceuticals by 32.0% in the second quarter. Farallon Capital Management LLC now owns 5,543,386 shares of the biotechnology company’s stock worth $34,203,000 after purchasing an additional 1,342,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Progenics Pharmaceuticals by 573.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,151,552 shares of the biotechnology company’s stock worth $7,105,000 after purchasing an additional 980,574 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Progenics Pharmaceuticals in the second quarter worth about $3,918,000. Vanguard Group Inc. increased its holdings in shares of Progenics Pharmaceuticals by 7.2% in the second quarter. Vanguard Group Inc. now owns 5,463,704 shares of the biotechnology company’s stock worth $33,712,000 after purchasing an additional 364,803 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Progenics Pharmaceuticals by 1.5% in the second quarter. BlackRock Inc. now owns 13,742,674 shares of the biotechnology company’s stock worth $84,792,000 after purchasing an additional 209,687 shares during the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PGNX opened at $4.85 on Monday. The company has a market capitalization of $428.78 million, a PE ratio of -7.70 and a beta of 2.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.25 and a current ratio of 4.25. The business’s fifty day moving average is $5.10 and its 200 day moving average is $4.93. Progenics Pharmaceuticals has a fifty-two week low of $3.42 and a fifty-two week high of $6.31.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Friday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). The company had revenue of $9.97 million for the quarter, compared to analysts’ expectations of $6.40 million. Progenics Pharmaceuticals had a negative net margin of 339.86% and a negative return on equity of 65.17%. On average, sell-side analysts forecast that Progenics Pharmaceuticals will post -1 EPS for the current year.

Progenics Pharmaceuticals Company Profile

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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