Progenics Pharmaceuticals, Inc. (PGNX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.33.

A number of brokerages have recently commented on PGNX. Zacks Investment Research lowered shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. BidaskClub lowered shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 19th. ValuEngine raised shares of Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st.

A number of large investors have recently bought and sold shares of the stock. Summit Trail Advisors LLC raised its position in Progenics Pharmaceuticals by 13.1% in the first quarter. Summit Trail Advisors LLC now owns 73,366 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 8,495 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in Progenics Pharmaceuticals by 163.3% in the second quarter. NumerixS Investment Technologies Inc now owns 15,800 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 9,800 shares in the last quarter. Alps Advisors Inc. raised its position in Progenics Pharmaceuticals by 13.5% in the second quarter. Alps Advisors Inc. now owns 106,983 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 12,735 shares in the last quarter. AJ Wealth Strategies LLC acquired a new position in Progenics Pharmaceuticals in the second quarter worth about $113,000. Finally, Raymond James & Associates raised its position in Progenics Pharmaceuticals by 24.3% in the second quarter. Raymond James & Associates now owns 71,586 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 14,008 shares in the last quarter. 88.74% of the stock is owned by hedge funds and other institutional investors.

Shares of PGNX opened at $5.62 on Friday. The stock has a market cap of $550.12 million, a PE ratio of -6.24 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.34 and a quick ratio of 6.34. Progenics Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.42.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Tuesday, July 31st. The biotechnology company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The company had revenue of $3.88 million for the quarter, compared to analyst estimates of $3.30 million. Progenics Pharmaceuticals had a negative net margin of 341.41% and a negative return on equity of 94.45%. equities analysts predict that Progenics Pharmaceuticals will post -0.64 EPS for the current year.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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