Progenics Pharmaceuticals Inc. (PGNX) Receives “Buy” Rating from Cantor Fitzgerald
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)‘s stock had its “buy” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday. They presently have a $15.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 142.33% from the stock’s current price.
The analysts wrote, “PGNX has completed the rolling NDA for AZEDRA for pheochromocytoma and paraganglioma.””
A number of other equities analysts have also recently issued reports on PGNX. Zacks Investment Research raised 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. ValuEngine cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Aegis reissued a “buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a report on Tuesday, August 22nd. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.20.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.03. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The business had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $3.58 million. During the same period in the prior year, the firm posted $0.52 EPS. Progenics Pharmaceuticals’s quarterly revenue was down 95.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC bought a new stake in Progenics Pharmaceuticals during the 2nd quarter worth approximately $103,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Progenics Pharmaceuticals during the 2nd quarter worth approximately $108,000. Municipal Employees Retirement System of Michigan grew its position in Progenics Pharmaceuticals by 4.0% during 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 last quarter. LS Investment Advisors LLC grew its position in Progenics Pharmaceuticals by 473.8% during 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 last quarter. Finally, Aperio Group LLC bought a new stake in Progenics Pharmaceuticals during the 3rd quarter worth approximately $118,000. Institutional investors and hedge funds own 90.06% 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.
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