Progenics Pharmaceuticals Inc. (PGNX) Given “Buy” Rating at Needham & Company LLC
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday.
A number of other equities research analysts have also commented on PGNX. Brean Capital initiated coverage on Progenics Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $11.00 target price on the stock. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Tuesday, July 26th. BTIG Research reiterated a “buy” rating and issued a $9.00 target price on shares of Progenics Pharmaceuticals in a research report on Wednesday, July 20th. Finally, Jefferies Group reiterated a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Friday, June 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Progenics Pharmaceuticals has an average rating of “Buy” and an average price target of $9.35.
Progenics Pharmaceuticals (NASDAQ:PGNX) traded up 4.14% during midday trading on Tuesday, reaching $7.05. 4,310,133 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $6.35 and its 200 day moving average is $5.37. Progenics Pharmaceuticals has a 52 week low of $3.61 and a 52 week high of $8.37. The firm’s market capitalization is $493.39 million.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. Progenics Pharmaceuticals had a negative net margin of 203.56% and a negative return on equity of 41.76%. The firm had revenue of $8.50 million for the quarter, compared to the consensus estimate of $6.33 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 337.6% compared to the same quarter last year. On average, equities analysts anticipate that Progenics Pharmaceuticals will post $0.13 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Integre Asset Management LLC raised its stake in Progenics Pharmaceuticals by 118.1% in the first quarter. Integre Asset Management LLC now owns 59,648 shares of the company’s stock valued at $260,000 after buying an additional 32,293 shares in the last quarter. A.R.T. Advisors LLC raised 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 in the last quarter. Rice Hall James & Associates LLC raised 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 in the last quarter. Bank of New York Mellon Corp raised its stake in Progenics Pharmaceuticals by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 559,054 shares of the company’s stock valued at $2,360,000 after buying an additional 2,357 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Progenics Pharmaceuticals during the second quarter valued at approximately $278,000. Institutional investors and hedge funds 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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