Progenics Pharmaceuticals, Inc. (PGNX) Expected to Post Earnings of -$0.17 Per Share

Equities research analysts expect that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will post earnings per share of ($0.17) for the current quarter, Zacks reports. Two analysts have issued estimates for Progenics Pharmaceuticals’ earnings. Progenics Pharmaceuticals posted earnings of ($0.20) per share in the same quarter last year, which suggests a positive year over year growth rate of 15%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Progenics Pharmaceuticals will report full year earnings of ($0.62) per share for the current financial year, with EPS estimates ranging from ($0.67) to ($0.57). For the next financial year, analysts forecast that the firm will post earnings of ($0.19) per share, with EPS estimates ranging from ($0.41) to $0.03. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Progenics Pharmaceuticals.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 59.85% and a negative net margin of 433.09%. The business had revenue of $4.28 million during the quarter, compared to analyst estimates of $3.71 million.

PGNX has been the subject of a number of research reports. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Friday, January 25th. BidaskClub upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Progenics Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $10.35.

Shares of NASDAQ:PGNX traded down $0.09 during midday trading on Friday, reaching $4.93. The company had a trading volume of 16,766 shares, compared to its average volume of 1,185,635. Progenics Pharmaceuticals has a 1-year low of $3.62 and a 1-year high of $9.42. The firm has a market capitalization of $424.41 million, a price-to-earnings ratio of -7.81 and a beta of 2.45. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.39.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund raised its stake in Progenics Pharmaceuticals by 3.8% in the first quarter. Texas Permanent School Fund now owns 57,403 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 2,079 shares during the period. New York State Teachers Retirement System raised its stake in Progenics Pharmaceuticals by 1.7% in the fourth quarter. New York State Teachers Retirement System now owns 137,761 shares of the biotechnology company’s stock valued at $579,000 after buying an additional 2,350 shares during the period. New York State Common Retirement Fund raised its stake in Progenics Pharmaceuticals by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 179,738 shares of the biotechnology company’s stock valued at $755,000 after buying an additional 3,500 shares during the period. Comerica Bank raised its stake in Progenics Pharmaceuticals by 4.4% in the first quarter. Comerica Bank now owns 83,763 shares of the biotechnology company’s stock valued at $422,000 after buying an additional 3,547 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Progenics Pharmaceuticals by 23.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 26,500 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 87.68% of the company’s stock.

About Progenics Pharmaceuticals

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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Earnings History and Estimates for Progenics Pharmaceuticals (NASDAQ:PGNX)

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