Q3 2016 Earnings Forecast for Progenics Pharmaceuticals Inc. (PGNX) Issued By Jefferies Group
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) – Stock analysts at Jefferies Group dropped their Q3 2016 EPS estimates for Progenics Pharmaceuticals in a note issued to investors on Monday. Jefferies Group analyst G. Wang now forecasts that the firm will post earnings per share of $0.51 for the quarter, down from their previous estimate of $0.52. Jefferies Group also issued estimates for Progenics Pharmaceuticals’ FY2019 earnings at $0.61 EPS.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. The business earned $8.50 million during the quarter, compared to analysts’ expectations of $6.33 million. Progenics Pharmaceuticals had a negative return on equity of 41.76% and a negative net margin of 203.56%. The firm’s quarterly revenue was up 337.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. BTIG Research reaffirmed a “buy” rating and set a $9.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, July 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Tuesday, October 4th. Finally, Brean Capital reaffirmed a “buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a research report on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.35.
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Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 1.22% during midday trading on Tuesday, reaching $5.65. The company had a trading volume of 354,989 shares. Progenics Pharmaceuticals has a 52-week low of $3.61 and a 52-week high of $8.37. The company’s market cap is $395.42 million. The company’s 50-day moving average is $6.30 and its 200 day moving average is $5.53.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Princeton Alpha Management LP purchased a new position in Progenics Pharmaceuticals during the second quarter worth about $100,000. Gamco Investors INC. ET AL purchased a new position in Progenics Pharmaceuticals during the second quarter worth about $106,000. AXA increased its position in Progenics Pharmaceuticals by 86.5% in the second quarter. AXA now owns 31,900 shares of the company’s stock worth $135,000 after buying an additional 14,800 shares during the last quarter. KCG Holdings Inc. increased its position in Progenics Pharmaceuticals by 71.0% in the second quarter. KCG Holdings Inc. now owns 43,712 shares of the company’s stock worth $184,000 after buying an additional 18,142 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Progenics Pharmaceuticals by 0.6% in the second quarter. ProShare Advisors LLC now owns 60,586 shares of the company’s stock worth $256,000 after buying an additional 387 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.
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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