Progenics Pharmaceuticals (NASDAQ:PGNX) Shares Up 5.2%

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)’s stock price shot up 5.2% during trading on Wednesday . The stock traded as high as $4.00 and last traded at $3.86, 1,422,894 shares were traded during trading. An increase of 41% from the average session volume of 1,009,478 shares. The stock had previously closed at $3.67.

Several brokerages recently commented on PGNX. UBS Group reiterated a “positive” rating on shares of Progenics Pharmaceuticals in a report on Thursday, June 20th. Brookline Capital Management began coverage on shares of Progenics Pharmaceuticals in a report on Monday, July 29th. They set a “buy” rating and a $10.00 price target on the stock. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday. BidaskClub downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.55.

The company has a market capitalization of $333.59 million, a PE ratio of -6.13 and a beta of 2.76. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $4.78.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $9.97 million during 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%. As a group, analysts anticipate that Progenics Pharmaceuticals, Inc. will post -1 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Intercontinental Wealth Advisors LLC purchased a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at about $35,000. Pinebridge Investments L.P. purchased a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at about $40,000. Crossmark Global Holdings Inc. purchased a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at about $62,000. Cubist Systematic Strategies LLC boosted its position in Progenics Pharmaceuticals by 1,825.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 9,600 shares during the period. Finally, Bank of Montreal Can boosted its position in Progenics Pharmaceuticals by 437.9% in the 2nd quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 10,002 shares during the period. 76.76% of the stock is owned by institutional investors.

About Progenics Pharmaceuticals (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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