Progenics Pharmaceuticals Inc. (PGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.04, MarketWatch Earnings reports. The company had revenue of $2.77 million during the quarter, compared to analyst estimates of $3.34 million. Progenics Pharmaceuticals had a negative net margin of 6.13% and a negative return on equity of 4.11%. The business’s quarterly revenue was down 67.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS.

Progenics Pharmaceuticals (NASDAQ PGNX) opened at 5.33 on Friday. The company has a 50 day moving average price of $6.55 and a 200 day moving average price of $8.20. The stock’s market cap is $374.18 million. Progenics Pharmaceuticals has a 52 week low of $4.60 and a 52 week high of $11.72.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake 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 stake in Progenics Pharmaceuticals during the first quarter worth about $128,000. Municipal Employees Retirement System of Michigan bought a new stake in Progenics Pharmaceuticals during the first quarter worth about $151,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Progenics Pharmaceuticals during the second quarter worth about $108,000. Finally, Mason Street Advisors LLC bought a new stake in Progenics Pharmaceuticals during the first quarter worth about $155,000. Hedge funds and other institutional investors own 92.20% of the company’s stock.

Several equities analysts have recently issued reports on PGNX shares. BidaskClub cut Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet cut Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a report on Friday, May 26th. Needham & Company LLC reissued a “strong-buy” rating on shares of Progenics Pharmaceuticals in a report on Monday, April 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given 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.

COPYRIGHT VIOLATION NOTICE: “Progenics Pharmaceuticals Inc. (PGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/08/11/progenics-pharmaceuticals-inc-pgnx-releases-quarterly-earnings-results-misses-estimates-by-0-04-eps.html.

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.

Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

What are top analysts saying about Progenics Pharmaceuticals Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Progenics Pharmaceuticals Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit