Progenics Pharmaceuticals Inc. (PGNX) Coverage Initiated by Analysts at Brean Capital
Equities research analysts at Brean Capital began coverage on shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $11.00 price target on the stock. Brean Capital’s price objective would indicate a potential upside of 62.48% from the company’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. BTIG Research reissued a “buy” rating and set a $9.00 price objective on shares of Progenics Pharmaceuticals in a research report on Wednesday, July 20th. Jefferies Group reissued a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Friday, June 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Progenics Pharmaceuticals in a research report on Friday, July 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals has an average rating of “Buy” and a consensus target price of $9.35.
Progenics Pharmaceuticals (NASDAQ:PGNX) opened at 6.77 on Tuesday. The company has a 50-day moving average of $6.35 and a 200 day moving average of $5.37. The firm’s market cap is $473.80 million. Progenics Pharmaceuticals has a one year low of $3.61 and a one year high of $8.37.
Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Thursday, August 4th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05. The company earned $8.50 million during the quarter, compared to the consensus estimate of $6.33 million. Progenics Pharmaceuticals had a negative return on equity of 41.76% and a negative net margin of 203.56%. Progenics Pharmaceuticals’s revenue was up 337.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. Equities research analysts expect that Progenics Pharmaceuticals will post $0.13 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Progenics Pharmaceuticals by 9.7% in the second quarter. Vanguard Group Inc. now owns 2,737,391 shares of the company’s stock valued at $11,552,000 after buying an additional 241,227 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in Progenics Pharmaceuticals by 241.6% in the first quarter. A.R.T. Advisors LLC now owns 307,523 shares of the company’s stock valued at $1,340,000 after buying an additional 217,500 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Progenics Pharmaceuticals by 111.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 217,100 shares of the company’s stock valued at $917,000 after buying an additional 114,500 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Progenics Pharmaceuticals during the second quarter valued at $278,000. Finally, Rice Hall James & Associates LLC boosted its stake in Progenics Pharmaceuticals by 4.9% in the second quarter. Rice Hall James & Associates LLC now owns 964,797 shares of the company’s stock valued at $4,071,000 after buying an additional 44,906 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
About Progenics Pharmaceuticals
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s products in development include therapeutic agents designed to target cancer and imaging agents, which focuses on enabling clinicians and patients to accurately visualize and manage their diseases.
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