Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $13.20.

A number of research firms have weighed in on PGNX. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Cantor Fitzgerald began coverage on Progenics Pharmaceuticals in a report on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 price target for the company. ValuEngine cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Aegis restated a “buy” rating and issued a $14.00 price target on shares of Progenics Pharmaceuticals in a report on Tuesday, August 22nd.

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Progenics Pharmaceuticals (NASDAQ PGNX) opened at 6.11 on Thursday. Progenics Pharmaceuticals has a 1-year low of $4.60 and a 1-year high of $11.72. The stock has a 50 day moving average of $6.80 and a 200 day moving average of $6.80. The stock’s market cap is $429.34 million.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.04). Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The firm had revenue of $2.77 million for the quarter, compared to analysts’ expectations of $3.34 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was down 67.3% compared to the same quarter last year. Equities analysts expect that Progenics Pharmaceuticals will post ($0.90) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGNX. Piedmont Investment Advisors LLC purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $103,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $108,000. Municipal Employees Retirement System of Michigan boosted its holdings in Progenics Pharmaceuticals by 4.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,600 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 640 shares during the period. LS Investment Advisors LLC boosted its holdings in Progenics Pharmaceuticals by 473.8% in the 2nd quarter. LS Investment Advisors LLC now owns 16,897 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 13,952 shares during the period. Finally, Aperio Group LLC purchased a new position in Progenics Pharmaceuticals in the 3rd quarter worth approximately $118,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Progenics Pharmaceuticals Company Profile

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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