Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Receives $10.50 Consensus Price Target from Brokerages

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Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.50.

Several brokerages recently weighed in on PGNX. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research lowered Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, UBS Group raised to a “neutral” rating and lifted their price objective for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th.

Hedge funds and other institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. bought a new position in Progenics Pharmaceuticals in the 2nd quarter worth about $62,000. Amalgamated Bank bought a new position in Progenics Pharmaceuticals in the 4th quarter worth about $53,000. Advisor Group Inc. boosted its stake in Progenics Pharmaceuticals by 2,466.1% in the 4th quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 12,158 shares during the period. Virtu Financial LLC bought a new position in Progenics Pharmaceuticals in the 1st quarter worth about $79,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Progenics Pharmaceuticals by 64,922.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 17,556 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 17,529 shares during the period. Institutional investors and hedge funds own 80.71% of the company’s stock.

PGNX traded down $0.04 during trading hours on Friday, hitting $5.33. The stock had a trading volume of 51,058 shares, compared to its average volume of 991,526. The firm’s fifty day simple moving average is $5.02. Progenics Pharmaceuticals has a 1 year low of $3.62 and a 1 year high of $9.42. The stock has a market capitalization of $451.66 million, a PE ratio of -8.43 and a beta of 2.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 4.81 and a current ratio of 4.81.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 61.96% and a negative net margin of 436.57%. The company had revenue of $4.28 million during the quarter, compared to analyst estimates of $3.71 million.

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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