Traders Buy Large Volume of Progenics Pharmaceuticals Call Options (PGNX)

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 2,342 call options on the stock. This represents an increase of approximately 686% compared to the typical volume of 298 call options.

A number of hedge funds have recently added to or reduced their stakes in PGNX. Fox Run Management L.L.C. acquired a new stake in Progenics Pharmaceuticals in the 4th quarter valued at about $100,000. Piedmont Investment Advisors LLC acquired a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at about $103,000. Aperio Group LLC acquired a new stake in Progenics Pharmaceuticals in the 3rd quarter valued at about $118,000. Teacher Retirement System of Texas acquired a new stake in Progenics Pharmaceuticals in the 4th quarter valued at about $142,000. Finally, Millennium Management LLC acquired a new stake in Progenics Pharmaceuticals in the 4th quarter valued at about $169,000. Institutional investors own 84.53% of the company’s stock.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) opened at $5.72 on Thursday. The company has a market cap of $401.94, a PE ratio of -7.24 and a beta of 3.40. The company has a quick ratio of 7.86, a current 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.

Several research analysts recently weighed in on PGNX shares. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price objective on shares of Progenics Pharmaceuticals in a report on Thursday, November 2nd. BidaskClub upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. Finally, ValuEngine downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Progenics Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $12.35.

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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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