Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) shares were down 8.6% on Monday . The company traded as low as $5.63 and last traded at $5.64. Approximately 1,043,343 shares traded hands during trading, a decline of 2% from the average daily volume of 1,068,286 shares. The stock had previously closed at $6.17.

A number of research analysts have recently weighed in on PGNX shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price target on shares of Progenics Pharmaceuticals in a report on Tuesday, September 5th. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Needham & Company LLC reiterated a “strong-buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a report on Friday, September 1st. ValuEngine raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Aegis reissued a “buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $13.75.

The company has a current ratio of 7.86, a quick ratio of 7.86 and a debt-to-equity ratio of 0.80.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 67.61% and a negative net margin of 445.81%. The company had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $3.58 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was down 95.0% compared to the same quarter last year. equities analysts anticipate that Progenics Pharmaceuticals Inc. will post -0.92 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new position in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $103,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $108,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Progenics Pharmaceuticals by 4.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,600 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 640 shares during the last quarter. Aperio Group LLC acquired a new position in shares of Progenics Pharmaceuticals during the 3rd quarter worth about $118,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Progenics Pharmaceuticals by 58.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 7,604 shares during the last quarter. 84.64% of the stock is owned by institutional investors.

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About Progenics Pharmaceuticals

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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