State Street Corp Grows Stake in Progenics Pharmaceuticals Inc. (PGNX)

State Street Corp grew its holdings in Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 42.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,708,788 shares of the biotechnology company’s stock after purchasing an additional 1,110,067 shares during the quarter. State Street Corp owned approximately 5.28% of Progenics Pharmaceuticals worth $25,186,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Progenics Pharmaceuticals in the second quarter valued at approximately $108,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Progenics Pharmaceuticals by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,600 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 640 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Progenics Pharmaceuticals by 473.8% during the second quarter. LS Investment Advisors LLC now owns 16,897 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 13,952 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Progenics Pharmaceuticals by 58.7% during the second quarter. BNP Paribas Arbitrage SA now owns 20,565 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 7,604 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of Progenics Pharmaceuticals during the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 89.19% of the company’s stock.

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Several brokerages recently issued reports on PGNX. ValuEngine downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Cantor Fitzgerald set a $15.00 price objective on shares of Progenics Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, Aegis reissued a “buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.20.

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) opened at $5.45 on Tuesday. The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.80. Progenics Pharmaceuticals Inc. has a one year low of $4.60 and a one year high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.58 million. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. Progenics Pharmaceuticals’s revenue was down 95.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. research analysts forecast that Progenics Pharmaceuticals Inc. will post -0.92 earnings per share for the current year.

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

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