Progenics Pharmaceuticals (PGNX) Posts Earnings Results, Beats Expectations By $0.09 EPS

Progenics Pharmaceuticals (NASDAQ:PGNX) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.09, Morningstar.com reports. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%. The business had revenue of $5.32 million during the quarter, compared to the consensus estimate of $4.14 million.

PGNX traded down $0.23 during trading on Friday, reaching $5.41. 743,800 shares of the company were exchanged, compared to its average volume of 1,375,316. The company has a market cap of $474.28 million, a P/E ratio of -6.01 and a beta of 2.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.34 and a quick ratio of 6.34. Progenics Pharmaceuticals has a 52 week low of $4.68 and a 52 week high of $9.42.

Institutional investors and hedge funds have recently modified their holdings of the stock. Clinton Group Inc. bought a new position in Progenics Pharmaceuticals during the 2nd quarter worth $121,000. Creative Planning grew its stake in Progenics Pharmaceuticals by 23.9% during the 3rd quarter. Creative Planning now owns 258,600 shares of the biotechnology company’s stock worth $1,621,000 after buying an additional 49,890 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Progenics Pharmaceuticals by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,981 shares of the biotechnology company’s stock worth $8,546,000 after buying an additional 24,073 shares during the last quarter. Trexquant Investment LP acquired a new position in Progenics Pharmaceuticals during the 2nd quarter worth $281,000. Finally, Employees Retirement System of Texas boosted its position in Progenics Pharmaceuticals by 21.9% during the 2nd quarter. Employees Retirement System of Texas now owns 139,000 shares of the biotechnology company’s stock worth $1,118,000 after acquiring an additional 25,000 shares during the period. Hedge funds and other institutional investors own 76.39% of the company’s stock.

PGNX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Needham & Company LLC boosted their price target on Progenics Pharmaceuticals from $14.00 to $16.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 31st. ValuEngine upgraded Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, July 30th. BidaskClub downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 price target on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.69.

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About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

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