Progenics Pharmaceuticals Inc. (PGNX) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) from a sell rating to a strong sell rating in a research note released on Tuesday, July 11th.

A number of other research firms also recently issued reports on PGNX. Needham & Company LLC reissued a strong-buy rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Sunday, April 2nd. Jefferies Group LLC boosted their price objective on shares of Progenics Pharmaceuticals from $13.00 to $14.00 and gave the company a buy rating in a report on Tuesday, April 4th. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a buy rating to a sell rating in a report on Wednesday, May 10th. Finally, TheStreet downgraded shares of Progenics Pharmaceuticals from a c rating to a d+ rating in a report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $12.33.

Shares of Progenics Pharmaceuticals (NASDAQ PGNX) opened at 6.06 on Tuesday. The stock’s 50 day moving average price is $6.72 and its 200 day moving average price is $8.29. The firm has a market cap of $425.56 million, a PE ratio of 62.47 and a beta of 3.35. Progenics Pharmaceuticals has a 12-month low of $4.84 and a 12-month high of $11.72.

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A number of institutional investors have recently added to or reduced their stakes in PGNX. BlackRock Inc. boosted its position in Progenics Pharmaceuticals by 149,468.9% in the first quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock worth $89,897,000 after buying an additional 9,516,686 shares in the last quarter. Vanguard Group Inc. boosted its position in Progenics Pharmaceuticals by 46.1% in the first quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock worth $39,013,000 after buying an additional 1,304,487 shares in the last quarter. Park West Asset Management LLC boosted its position in Progenics Pharmaceuticals by 102.1% in the first quarter. Park West Asset Management LLC now owns 2,494,096 shares of the biotechnology company’s stock worth $23,544,000 after buying an additional 1,259,910 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Progenics Pharmaceuticals by 207.8% in the first quarter. Goldman Sachs Group Inc. now owns 834,742 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 563,534 shares in the last quarter. Finally, State Street Corp boosted its position in Progenics Pharmaceuticals by 26.1% in the first quarter. State Street Corp now owns 2,598,721 shares of the biotechnology company’s stock worth $24,534,000 after buying an additional 537,739 shares in the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.

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.

Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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