Jefferies Group Comments on Progenics Pharmaceuticals Inc.’s FY2016 Earnings (PGNX)
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) – Research analysts at Jefferies Group decreased their FY2016 earnings per share estimates for Progenics Pharmaceuticals in a report issued on Monday. Jefferies Group analyst G. Wang now anticipates that the firm will post earnings per share of $0.14 for the year, down from their previous forecast of $0.17. Jefferies Group has a “Buy” rating and a $10.00 price target on the stock. Jefferies Group also issued estimates for Progenics Pharmaceuticals’ Q4 2016 earnings at ($0.14) EPS, FY2017 earnings at ($0.28) EPS, FY2018 earnings at $0.13 EPS and FY2020 earnings at $1.08 EPS.
PGNX has been the topic of a number of other reports. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Tuesday, July 26th. Brean Capital set a $14.00 price target on shares of Progenics Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Progenics Pharmaceuticals in a research note on Friday, July 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $9.00 price target on shares of Progenics Pharmaceuticals in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $9.55.
Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 1.150% on Wednesday, reaching $5.585. 424,440 shares of the company traded hands. The stock has a 50-day moving average price of $6.28 and a 200 day moving average price of $5.54. Progenics Pharmaceuticals has a 1-year low of $3.61 and a 1-year high of $8.37. The firm’s market capitalization is $390.87 million.
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Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Thursday, August 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05. Progenics Pharmaceuticals had a negative net margin of 203.56% and a negative return on equity of 41.76%. The company earned $8.50 million during the quarter, compared to analyst estimates of $6.33 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 337.6% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in PGNX. Integre Asset Management LLC boosted its stake in Progenics Pharmaceuticals by 118.1% in the first quarter. Integre Asset Management LLC now owns 59,648 shares of the company’s stock valued at $260,000 after buying an additional 32,293 shares in the last quarter. Cadence Capital Management LLC boosted its stake in Progenics Pharmaceuticals by 23.8% in the second quarter. Cadence Capital Management LLC now owns 192,675 shares of the company’s stock valued at $813,000 after buying an additional 37,048 shares in the last quarter. Princeton Alpha Management LP bought a new stake in Progenics Pharmaceuticals during the second quarter valued at about $100,000. 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 valued at $2,360,000 after buying an additional 2,357 shares in the last quarter. Finally, 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 valued at $1,340,000 after buying an additional 217,500 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.
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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