Cantor Fitzgerald Reiterates “Buy” Rating for Progenics Pharmaceuticals (PGNX)

Progenics Pharmaceuticals (NASDAQ:PGNX)‘s stock had its “buy” rating reissued by investment analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday. They presently have a $15.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 141.16% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given 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 target price of $12.35.

Progenics Pharmaceuticals (PGNX) traded up $0.18 during midday trading on Wednesday, reaching $6.22. The company’s stock had a trading volume of 809,200 shares, compared to its average volume of 1,227,309. The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $433.92, a P/E ratio of -7.87 and a beta of 3.42. Progenics Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings data 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. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.58 million. Progenics Pharmaceuticals had a negative return on equity of 67.61% and a negative net margin of 445.81%. The company’s quarterly revenue was down 95.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. equities analysts expect that Progenics Pharmaceuticals will post -0.92 EPS for the current year.

Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in shares of Progenics Pharmaceuticals in the second quarter valued at approximately $103,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Progenics Pharmaceuticals in the second quarter valued at approximately $108,000. Aperio Group LLC bought a new position in shares of Progenics Pharmaceuticals in the third quarter valued at approximately $118,000. Fox Run Management L.L.C. bought a new position in shares of Progenics Pharmaceuticals in the fourth quarter valued at approximately $100,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Progenics Pharmaceuticals by 58.7% in the second quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 7,604 shares during the last quarter. Institutional investors own 84.55% of the company’s stock.

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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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