PGNX has been the subject of a number of other reports. BTIG Research set a $14.00 price target on shares of Progenics Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. UBS Group restated a “positive” rating on shares of Progenics Pharmaceuticals in a report on Thursday, June 20th. BidaskClub raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Brookline Capital Management assumed coverage on shares of Progenics Pharmaceuticals in a report on Monday, July 29th. They set a “buy” rating and a $10.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $9.55.
PGNX traded up $0.24 during trading on Wednesday, reaching $5.53. The stock had a trading volume of 2,177,245 shares, compared to its average volume of 1,026,258. 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 company has a market capitalization of $457.16 million, a price-to-earnings ratio of -8.78 and a beta of 2.78. The stock’s 50 day moving average is $4.59 and its two-hundred day moving average is $4.77. Progenics Pharmaceuticals has a one year low of $3.42 and a one year high of $7.43.
In related news, insider Velan Capital, L.P. purchased 130,826 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $4.31 per share, with a total value of $563,860.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lte Partners, Llc purchased 21,480 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $4.94 per share, for a total transaction of $106,111.20. The disclosure for this purchase can be found here. Insiders acquired 677,306 shares of company stock worth $2,968,406 over the last three months. Corporate insiders own 4.26% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PGNX. Nuveen Asset Management LLC bought a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at about $3,918,000. Price T Rowe Associates Inc. MD raised its holdings in 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 buying an additional 980,574 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Progenics Pharmaceuticals by 22.7% in the second quarter. UBS Asset Management Americas Inc. now owns 47,011 shares of the biotechnology company’s stock worth $290,000 after buying an additional 8,704 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Progenics Pharmaceuticals in the second quarter worth approximately $148,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Progenics Pharmaceuticals by 1,825.1% in the second quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock worth $62,000 after buying an additional 9,600 shares in the last quarter. 77.97% of the stock is currently owned by institutional investors.
About Progenics Pharmaceuticals
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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