Progenics Pharmaceuticals (PGNX) Posts Earnings Results, Beats Expectations By $0.09 EPS

Progenics Pharmaceuticals (NASDAQ:PGNX) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.09, Morningstar.com reports. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%. The business had revenue of $5.32 million during the quarter, compared to the consensus estimate of $4.14 million.

PGNX stock traded down $0.23 during trading on Friday, reaching $5.41. 743,800 shares of the stock traded hands, compared to its average volume of 1,375,316. Progenics Pharmaceuticals has a 52-week low of $4.68 and a 52-week high of $9.42. The company has a current ratio of 6.34, a quick ratio of 6.34 and a debt-to-equity ratio of 0.68. The company has a market cap of $474.28 million, a PE ratio of -6.01 and a beta of 2.81.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. ValuEngine raised Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $13.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. BidaskClub downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Finally, Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.69.

Hedge funds have recently bought and sold shares of the business. AJ Wealth Strategies LLC purchased a new stake in Progenics Pharmaceuticals during the second quarter valued at about $113,000. Clinton Group Inc. purchased a new stake in Progenics Pharmaceuticals during the second quarter valued at about $121,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Progenics Pharmaceuticals during the second quarter worth about $125,000. NumerixS Investment Technologies Inc lifted its stake in shares of Progenics Pharmaceuticals by 163.3% during 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. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Progenics Pharmaceuticals during the second quarter worth about $160,000. 76.39% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

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