California Public Employees Retirement System reduced its stake in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 172,200 shares of the biotechnology company’s stock after selling 7,500 shares during the period. California Public Employees Retirement System’s holdings in Progenics Pharmaceuticals were worth $1,626,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PGNX. Bank of New York Mellon Corp increased its position in shares of Progenics Pharmaceuticals by 92.2% in the first quarter. Bank of New York Mellon Corp now owns 1,098,566 shares of the biotechnology company’s stock valued at $10,370,000 after buying an additional 526,905 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Progenics Pharmaceuticals by 4,297.7% in the first quarter. Principal Financial Group Inc. now owns 547,202 shares of the biotechnology company’s stock valued at $5,165,000 after buying an additional 534,759 shares during the last quarter. Oxford Asset Management increased its position in shares of Progenics Pharmaceuticals by 65.6% in the first quarter. Oxford Asset Management now owns 456,033 shares of the biotechnology company’s stock valued at $4,305,000 after buying an additional 180,618 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Progenics Pharmaceuticals during the first quarter valued at about $3,472,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Progenics Pharmaceuticals during the first quarter valued at about $2,669,000. 92.13% of the stock is currently owned by institutional investors.

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) opened at 5.63 on Friday. Progenics Pharmaceuticals Inc. has a 52 week low of $4.84 and a 52 week high of $11.72. The company’s 50 day moving average is $6.81 and its 200 day moving average is $8.35. The stock has a market cap of $395.37 million, a P/E ratio of 58.04 and a beta of 3.35.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Thursday, May 4th. The biotechnology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by $0.07. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The firm had revenue of $2.40 million during the quarter, compared to analyst estimates of $4.50 million. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts predict that Progenics Pharmaceuticals Inc. will post ($0.84) earnings per share for the current year.

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PGNX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “strong-buy” rating on shares of Progenics Pharmaceuticals in a research note on Monday, April 24th. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Wednesday, May 10th. TheStreet downgraded shares of Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 26th. Jefferies Group LLC reissued a “buy” rating and set a $12.00 price objective on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. Finally, BidaskClub downgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and an average price target of $12.33.

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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Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

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