Traders Buy High Volume of Progenics Pharmaceuticals Put Options (PGNX)
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) saw unusually large options trading activity on Tuesday. Stock investors bought 796 put options on the stock. This is an increase of 836% compared to the average volume of 85 put options.
A number of large investors have recently added to or reduced their stakes in PGNX. Piedmont Investment Advisors LLC bought a new stake in shares of Progenics Pharmaceuticals during the 2nd quarter valued at $103,000. Numeric Investors LLC bought a new stake in shares of Progenics Pharmaceuticals during the 2nd quarter valued at $2,877,000. Royce & Associates LP boosted its holdings in shares of Progenics Pharmaceuticals by 7.7% during the 2nd quarter. Royce & Associates LP now owns 1,346,374 shares of the biotechnology company’s stock valued at $9,142,000 after buying an additional 95,700 shares in the last quarter. KBC Group NV boosted its holdings in shares of Progenics Pharmaceuticals by 10.2% during the 3rd quarter. KBC Group NV now owns 234,777 shares of the biotechnology company’s stock valued at $1,728,000 after buying an additional 21,791 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Progenics Pharmaceuticals by 457.2% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 88,980 shares of the biotechnology company’s stock valued at $655,000 after buying an additional 73,010 shares in the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.
Several research analysts recently commented on PGNX shares. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. ValuEngine raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 target price on shares of Progenics Pharmaceuticals in a research note on Thursday, November 2nd. Finally, BidaskClub raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $12.35.
Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $3.58 million. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The firm’s revenue for the quarter was down 95.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. equities analysts expect that Progenics Pharmaceuticals will post -0.92 EPS for the current year.
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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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