Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.00.

A number of research analysts recently weighed in on PGNX shares. Needham & Company LLC reaffirmed a “strong-buy” rating on shares of Progenics Pharmaceuticals in a research note on Monday, April 24th. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. TheStreet lowered shares of Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. Finally, Cantor Fitzgerald started coverage on shares of Progenics Pharmaceuticals in a research note on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 price target on the stock.

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A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Progenics Pharmaceuticals by 149,468.9% in the first quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock worth $89,897,000 after buying an additional 9,516,686 shares during the last quarter. Vanguard Group Inc. increased its stake in Progenics Pharmaceuticals by 46.1% in the first quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock worth $39,013,000 after buying an additional 1,304,487 shares during the last quarter. Park West Asset Management LLC increased its stake in Progenics Pharmaceuticals by 102.1% in the first quarter. Park West Asset Management LLC now owns 2,494,096 shares of the biotechnology company’s stock worth $23,544,000 after buying an additional 1,259,910 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Progenics Pharmaceuticals by 207.8% in the first quarter. Goldman Sachs Group Inc. now owns 834,742 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 563,534 shares during the last quarter. Finally, State Street Corp increased its stake in Progenics Pharmaceuticals by 26.1% in the first quarter. State Street Corp now owns 2,598,721 shares of the biotechnology company’s stock worth $24,534,000 after buying an additional 537,739 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Progenics Pharmaceuticals (PGNX) opened at 6.8943 on Tuesday. The stock has a 50 day moving average price of $6.94 and a 200 day moving average price of $8.72. The stock has a market capitalization of $484.15 million, a P/E ratio of 71.0753 and a beta of 3.36. Progenics Pharmaceuticals has a 12 month low of $4.82 and a 12 month high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its earnings results on Thursday, May 4th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.07. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The firm had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $4.50 million. During the same period in the previous year, the company earned ($0.18) earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Equities analysts predict that Progenics Pharmaceuticals will post ($0.84) EPS for the current fiscal year.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.

Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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