Legal & General Group Plc increased its position in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 576.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,476 shares of the biotechnology company’s stock after buying an additional 99,267 shares during the period. Legal & General Group Plc owned about 0.17% of Progenics Pharmaceuticals worth $1,100,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of Progenics Pharmaceuticals by 1,077.2% in the first quarter. BNP Paribas Arbitrage SA now owns 12,961 shares of the biotechnology company’s stock worth $122,000 after buying an additional 11,860 shares during the last quarter. Profund Advisors LLC bought a new position in shares of Progenics Pharmaceuticals during the first quarter worth about $128,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Progenics Pharmaceuticals during the first quarter worth about $151,000. Morse Asset Management Inc bought a new position in shares of Progenics Pharmaceuticals during the first quarter worth about $155,000. Finally, Mason Street Advisors LLC bought a new position in shares of Progenics Pharmaceuticals during the first quarter worth about $155,000. Institutional investors and hedge funds own 92.42% of the company’s stock.
Progenics Pharmaceuticals Inc. (PGNX) opened at 6.29 on Friday. The firm’s 50-day moving average price is $6.88 and its 200-day moving average price is $8.42. The stock has a market cap of $441.72 million, a PE ratio of 64.85 and a beta of 3.36. Progenics Pharmaceuticals Inc. has a 52 week low of $4.84 and a 52 week high of $11.72.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its earnings results on Thursday, May 4th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $4.50 million. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Equities analysts predict that Progenics Pharmaceuticals Inc. will post ($0.84) earnings per share for the current fiscal year.
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PGNX has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. TheStreet cut Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Cantor Fitzgerald initiated coverage on Progenics Pharmaceuticals in a research note on Wednesday, July 12th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, BidaskClub cut Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Progenics Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $12.33.
Progenics Pharmaceuticals Company Profile
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.
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