Progenics Pharmaceuticals Sees Unusually High Options Volume (PGNX)

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) was the recipient of some unusual options trading on Tuesday. Investors acquired 2,342 call options on the stock. This is an increase of approximately 686% compared to the typical daily volume of 298 call options.

PGNX has been the topic of several recent analyst reports. Cantor Fitzgerald set a $15.00 target price on Progenics Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, January 2nd. ValuEngine raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, BidaskClub raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.35.

Progenics Pharmaceuticals (NASDAQ:PGNX) traded up $0.17 on Wednesday, hitting $5.72. The stock had a trading volume of 801,028 shares, compared to its average volume of 1,152,204. Progenics Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $11.72. 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 company has a market cap of $401.94, a P/E ratio of -7.24 and a beta of 3.40.

Several institutional investors and hedge funds have recently bought and sold shares of PGNX. Teachers Advisors LLC raised its stake in shares of Progenics Pharmaceuticals by 70.6% in the 2nd quarter. Teachers Advisors LLC now owns 205,501 shares of the biotechnology company’s stock worth $1,395,000 after buying an additional 85,022 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Progenics Pharmaceuticals by 47.7% during the second quarter. TIAA CREF Investment Management LLC now owns 282,978 shares of the biotechnology company’s stock worth $1,921,000 after purchasing an additional 91,437 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Progenics Pharmaceuticals by 6.8% during the second quarter. Thrivent Financial For Lutherans now owns 42,380 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 2,710 shares during the period. New York State Common Retirement Fund raised its position in shares of Progenics Pharmaceuticals by 11.0% during the second quarter. New York State Common Retirement Fund now owns 239,525 shares of the biotechnology company’s stock worth $1,626,000 after purchasing an additional 23,723 shares during the period. Finally, Northern Trust Corp raised its position in shares of Progenics Pharmaceuticals by 3.9% during the second quarter. Northern Trust Corp now owns 895,458 shares of the biotechnology company’s stock worth $6,081,000 after purchasing an additional 33,774 shares during the period. 84.53% of the stock is currently owned by institutional investors.

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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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