Progenics Pharmaceuticals (PGNX) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a sell rating to a hold rating in a research report released on Wednesday morning.

A number of other brokerages have also recently issued reports on PGNX. Cantor Fitzgerald reissued a buy rating and issued a $15.00 target price on shares of Progenics Pharmaceuticals in a research report on Thursday, November 2nd. Zacks Investment Research cut Progenics Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, January 6th. Finally, ValuEngine cut Progenics Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $12.35.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded up $0.17 during midday trading on Wednesday, hitting $5.72. The company had a trading volume of 801,200 shares, compared to its average volume of 1,117,049. The firm has a market cap of $390.00, a PE ratio of -7.35 and a beta of 3.41. The company has a current ratio of 7.86, a quick ratio of 7.86 and a debt-to-equity ratio of 0.80. Progenics Pharmaceuticals has a 1 year low of $4.60 and a 1 year high of $11.72.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Progenics Pharmaceuticals by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 60,600 shares of the biotechnology company’s stock worth $412,000 after purchasing an additional 1,868 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Progenics Pharmaceuticals by 6.8% during the second quarter. Thrivent Financial For Lutherans now owns 42,380 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 2,710 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Progenics Pharmaceuticals by 12.4% in the second quarter. Voya Investment Management LLC now owns 35,657 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 3,920 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Progenics Pharmaceuticals by 58.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 26,350 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 9,750 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Progenics Pharmaceuticals by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 218,468 shares of the biotechnology company’s stock valued at $1,300,000 after acquiring an additional 11,614 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

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About Progenics Pharmaceuticals

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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