ValuEngine Upgrades Progenics Pharmaceuticals (NASDAQ:PGNX) to Buy

ValuEngine upgraded shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a hold rating to a buy rating in a research report report published on Wednesday morning, ValuEngine reports.

Other equities analysts have also issued reports about the company. Brookline Capital Management initiated coverage on Progenics Pharmaceuticals in a report on Monday, July 29th. They set a buy rating and a $10.00 target price on the stock. BTIG Research set a $14.00 target price on Progenics Pharmaceuticals and gave the company a buy rating in a report on Monday, August 12th. BidaskClub lowered Progenics Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, August 14th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 22nd. Finally, UBS Group restated a positive rating on shares of Progenics Pharmaceuticals in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Progenics Pharmaceuticals has a consensus rating of Buy and an average price target of $9.55.

NASDAQ PGNX opened at $4.29 on Wednesday. Progenics Pharmaceuticals has a fifty-two week low of $3.42 and a fifty-two week high of $8.11. The stock’s 50-day moving average is $4.94 and its two-hundred day moving average is $4.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.25 and a quick ratio of 4.25. The firm has a market cap of $370.74 million, a P/E ratio of -6.81 and a beta of 2.76.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). Progenics Pharmaceuticals had a negative net margin of 339.86% and a negative return on equity of 65.17%. The company had revenue of $9.97 million for the quarter, compared to the consensus estimate of $6.40 million. On average, equities analysts expect that Progenics Pharmaceuticals will post -1 EPS for the current year.

Several institutional investors have recently bought and sold shares of PGNX. Intercontinental Wealth Advisors LLC bought a new position in shares of Progenics Pharmaceuticals in the second quarter worth about $35,000. Pinebridge Investments L.P. bought a new position in shares of Progenics Pharmaceuticals in the second quarter worth about $40,000. Crossmark Global Holdings Inc. bought a new position in shares of Progenics Pharmaceuticals in the second quarter worth about $62,000. Cubist Systematic Strategies LLC increased its stake in shares of Progenics Pharmaceuticals by 1,825.1% in the second quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 9,600 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Progenics Pharmaceuticals by 437.9% in the second quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 10,002 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.

Progenics Pharmaceuticals Company Profile

Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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