Progenics Pharmaceuticals, Inc. (PGNX) Stake Lifted by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,714 shares of the biotechnology company’s stock after acquiring an additional 15,080 shares during the period. Rhumbline Advisers owned 0.24% of Progenics Pharmaceuticals worth $1,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGNX. Eagle Asset Management Inc. boosted its stake in Progenics Pharmaceuticals by 7.5% during the first quarter. Eagle Asset Management Inc. now owns 4,470,838 shares of the biotechnology company’s stock worth $33,352,000 after buying an additional 310,078 shares during the period. Carillon Tower Advisers Inc. boosted its stake in shares of Progenics Pharmaceuticals by 7.8% during the first quarter. Carillon Tower Advisers Inc. now owns 3,948,024 shares of the biotechnology company’s stock valued at $28,070,000 after purchasing an additional 285,906 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Progenics Pharmaceuticals by 1.1% during the second quarter. Rice Hall James & Associates LLC now owns 1,389,840 shares of the biotechnology company’s stock valued at $11,174,000 after purchasing an additional 15,378 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Progenics Pharmaceuticals by 529.5% during the first quarter. Summit Trail Advisors LLC now owns 408,376 shares of the biotechnology company’s stock valued at $408,000 after purchasing an additional 343,505 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Progenics Pharmaceuticals by 11.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 361,621 shares of the biotechnology company’s stock valued at $2,698,000 after acquiring an additional 36,265 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.

PGNX opened at $5.92 on Tuesday. Progenics Pharmaceuticals, Inc. has a 52-week low of $5.01 and a 52-week high of $9.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34. The stock has a market cap of $472.50 million, a PE ratio of -6.62 and a beta of 2.50.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its earnings results on Tuesday, July 31st. The biotechnology company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The firm had revenue of $3.88 million during the quarter, compared to analysts’ expectations of $3.30 million. Progenics Pharmaceuticals had a negative net margin of 341.41% and a negative return on equity of 94.45%. On average, analysts anticipate that Progenics Pharmaceuticals, Inc. will post -0.67 earnings per share for the current fiscal year.

Several analysts recently weighed in on PGNX shares. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. BidaskClub downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Needham & Company LLC reiterated a “strong-buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Finally, ValuEngine upgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, July 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.69.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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

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