Progenics Pharmaceuticals Inc. (PGNX) Stock Rating Reaffirmed by Jefferies Group
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a note issued to investors on Tuesday. They presently have a $10.00 price target on the stock, up from their prior price target of $9.00. Jefferies Group’s price objective indicates a potential upside of 74.83% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Tuesday, July 26th. Brean Capital reissued a “buy” rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Friday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Progenics Pharmaceuticals in a research note on Friday, July 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $9.00 price objective on shares of Progenics Pharmaceuticals in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and an average price target of $9.55.
Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 1.486% during mid-day trading on Tuesday, reaching $5.635. The company had a trading volume of 494,097 shares. The firm’s market capitalization is $394.37 million. Progenics Pharmaceuticals has a one year low of $3.61 and a one year high of $8.37. The stock has a 50 day moving average of $6.30 and a 200-day moving average of $5.53.
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Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $8.50 million for the quarter, compared to analysts’ expectations of $6.33 million. Progenics Pharmaceuticals had a negative net margin of 203.56% and a negative return on equity of 41.76%. The firm’s quarterly revenue was up 337.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. Equities analysts predict that Progenics Pharmaceuticals will post $0.13 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Progenics Pharmaceuticals by 9.7% in the second quarter. Vanguard Group Inc. now owns 2,737,391 shares of the company’s stock worth $11,552,000 after buying an additional 241,227 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Progenics Pharmaceuticals by 4.9% in the second quarter. Rice Hall James & Associates LLC now owns 964,797 shares of the company’s stock worth $4,071,000 after buying an additional 44,906 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Progenics Pharmaceuticals by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 559,054 shares of the company’s stock worth $2,360,000 after buying an additional 2,357 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in Progenics Pharmaceuticals by 241.6% in the first quarter. A.R.T. Advisors LLC now owns 307,523 shares of the company’s stock worth $1,340,000 after buying an additional 217,500 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Progenics Pharmaceuticals by 5.6% in the second quarter. BlackRock Investment Management LLC now owns 260,867 shares of the company’s stock worth $1,101,000 after buying an additional 13,853 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other 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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