Progenics Pharmaceuticals’ (PGNX) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)‘s stock had its “buy” rating reaffirmed by research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday, November 2nd. They presently have a $15.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 171.25% from the stock’s current price.

The analysts wrote, “PGNX has completed the rolling NDA for AZEDRA for pheochromocytoma and paraganglioma.””

Several other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Needham & Company LLC restated a “strong-buy” rating and set a $14.00 target price on shares of Progenics Pharmaceuticals in a research report on Friday, September 1st. BidaskClub cut shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Aegis reissued a “buy” rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $13.20.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) opened at $5.53 on Thursday. Progenics Pharmaceuticals has a 1 year low of $4.60 and a 1 year high of $11.72. The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.86 and a current ratio of 7.86.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The business had revenue of $2.70 million during the quarter, compared to the consensus estimate of $3.58 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue was down 95.0% on a year-over-year basis. sell-side analysts forecast that Progenics Pharmaceuticals will post -0.92 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals in the second quarter worth $103,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Progenics Pharmaceuticals in the first quarter worth $151,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Progenics Pharmaceuticals in the second quarter worth $108,000. Aperio Group LLC purchased a new position in shares of Progenics Pharmaceuticals in the third quarter worth $118,000. Finally, LS Investment Advisors LLC raised its holdings in shares of Progenics Pharmaceuticals by 473.8% in the second quarter. LS Investment Advisors LLC now owns 16,897 shares of the biotechnology company’s stock worth $115,000 after buying an additional 13,952 shares during the last quarter. Institutional investors own 87.36% 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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