Progenics Pharmaceuticals, Inc. (PGNX) Receives Average Rating of “Buy” from Analysts
Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have been assigned an average rating of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $13.75.
A number of analysts have weighed in on PGNX shares. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Progenics Pharmaceuticals in a report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Finally, BidaskClub raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 9th.
Several hedge funds have recently made changes to their positions in PGNX. State Street Corp raised its stake in shares of Progenics Pharmaceuticals by 42.7% in the 2nd quarter. State Street Corp now owns 3,708,788 shares of the biotechnology company’s stock valued at $25,186,000 after buying an additional 1,110,067 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Progenics Pharmaceuticals in the 2nd quarter valued at $2,877,000. Hikari Power Ltd acquired a new position in shares of Progenics Pharmaceuticals in the 3rd quarter valued at $1,472,000. Vanguard Group Inc. raised its stake in shares of Progenics Pharmaceuticals by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,300,478 shares of the biotechnology company’s stock valued at $29,200,000 after buying an additional 167,708 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in shares of Progenics Pharmaceuticals by 3.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 4,166,919 shares of the biotechnology company’s stock valued at $32,210,000 after buying an additional 154,553 shares in the last quarter. Institutional investors own 84.55% of the company’s stock.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The firm had revenue of $2.70 million during the quarter, compared to the consensus estimate of $3.58 million. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue was down 95.0% on a year-over-year basis. equities research analysts predict that Progenics Pharmaceuticals will post -0.92 earnings per share for the current year.
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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.
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