Progenics Pharmaceuticals (PGNX) Rating Increased to Hold at ValuEngine

Progenics Pharmaceuticals (NASDAQ:PGNX) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

PGNX has been the topic of a number of other research reports. Cantor Fitzgerald set a $15.00 price objective on Progenics Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Friday, September 1st. Zacks Investment Research lowered Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Aegis reissued a “buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $13.75.

Shares of Progenics Pharmaceuticals (NASDAQ PGNX) traded up $0.19 during midday trading on Thursday, hitting $6.17. The stock had a trading volume of 898,200 shares, compared to its average volume of 547,997. The company has a current ratio of 7.86, a quick ratio of 7.86 and a debt-to-equity ratio of 0.80. Progenics Pharmaceuticals has a fifty-two week low of $4.60 and a fifty-two week high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.58 million. Progenics Pharmaceuticals had a negative return on equity of 67.61% and a negative net margin of 445.81%. The firm’s revenue for the quarter was down 95.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. research analysts expect that Progenics Pharmaceuticals will post -0.92 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at approximately $103,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at approximately $108,000. Aperio Group LLC bought a new stake in Progenics Pharmaceuticals during the 3rd quarter valued at approximately $118,000. Municipal Employees Retirement System of Michigan boosted its stake 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 valued at $113,000 after purchasing an additional 640 shares during the period. Finally, LS Investment Advisors LLC boosted its stake 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 valued at $115,000 after purchasing an additional 13,952 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/12/09/progenics-pharmaceuticals-pgnx-rating-increased-to-hold-at-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Progenics Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progenics Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply