Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) has been given a $11.00 target price by analysts at Jefferies Group in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 19.31% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Progenics Pharmaceuticals in a research note on Tuesday, October 4th. Brean Capital started coverage on shares of Progenics Pharmaceuticals in a research note on Tuesday, October 4th. They issued a “buy” rating and a $11.00 price target for the company. Aegis started coverage on shares of Progenics Pharmaceuticals in a research note on Wednesday, October 26th. They issued a “buy” rating and a $11.00 price target for the company. BTIG Research lifted their price target on shares of Progenics Pharmaceuticals from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 30th. Finally, Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, December 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.29.
Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 5.75% during midday trading on Tuesday, reaching $8.69. 2,230,804 shares of the company traded hands. The firm has a market capitalization of $608.74 million, a PE ratio of 56.06 and a beta of 3.11. The company has a 50-day moving average of $8.83 and a 200 day moving average of $6.64. Progenics Pharmaceuticals has a 12-month low of $3.61 and a 12-month high of $9.78.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Monday, November 7th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.03. Progenics Pharmaceuticals had a return on equity of 12.27% and a net margin of 15.55%. The firm had revenue of $53.90 million for the quarter, compared to the consensus estimate of $52.90 million. During the same period in the prior year, the business earned ($0.14) EPS. Progenics Pharmaceuticals’s quarterly revenue was up 3750.0% on a year-over-year basis. On average, equities analysts forecast that Progenics Pharmaceuticals will post $0.07 earnings per share for the current year.
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Several large investors have recently bought and sold shares of PGNX. Baker BROS. Advisors LP acquired a new stake in Progenics Pharmaceuticals during the third quarter valued at approximately $23,110,000. Phocas Financial Corp. increased its stake in Progenics Pharmaceuticals by 145.4% in the third quarter. Phocas Financial Corp. now owns 1,593,088 shares of the company’s stock valued at $10,084,000 after buying an additional 943,793 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Progenics Pharmaceuticals during the third quarter valued at approximately $3,442,000. Ardsley Advisory Partners acquired a new stake in Progenics Pharmaceuticals during the third quarter valued at approximately $2,912,000. Finally, HealthInvest Partners AB acquired a new stake in Progenics Pharmaceuticals during the third quarter valued at approximately $1,772,000. 86.03% of the stock is owned by institutional investors.
About Progenics Pharmaceuticals
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s products in development include therapeutic agents designed to target cancer and imaging agents, which focuses on enabling clinicians and patients to accurately visualize and manage their diseases.
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