Progenics Pharmaceuticals (PGNX) Rating Lowered to Sell at ValuEngine

Progenics Pharmaceuticals (NASDAQ:PGNX) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

PGNX has been the topic of several other reports. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Thursday, January 4th. Cantor Fitzgerald set a $15.00 price target on shares of Progenics Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, BidaskClub upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Progenics Pharmaceuticals has a consensus rating of “Buy” and an average price target of $12.35.

Shares of Progenics Pharmaceuticals (NASDAQ PGNX) traded down $0.30 during trading on Tuesday, reaching $6.04. 911,917 shares of the company’s stock traded hands, compared to its average volume of 1,370,000. The stock has a market capitalization of $424.43, a price-to-earnings ratio of -7.65 and a beta of 3.42. Progenics Pharmaceuticals has a one year low of $4.60 and a one year high of $11.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.86 and a quick ratio of 7.86.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals during the second quarter worth approximately $103,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Progenics Pharmaceuticals during the second quarter worth approximately $108,000. Aperio Group LLC purchased a new position in shares of Progenics Pharmaceuticals during the third quarter worth approximately $118,000. BNP Paribas Arbitrage SA grew its position in shares of Progenics Pharmaceuticals by 58.7% during the second quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock worth $140,000 after acquiring an additional 7,604 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Progenics Pharmaceuticals during the second quarter worth approximately $145,000. Institutional investors and hedge funds own 84.55% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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