Progenics Pharmaceuticals, Inc. (PGNX) Receives Consensus Rating of “Buy” from Analysts

Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.50.

A number of equities analysts have recently commented on PGNX shares. Zacks Investment Research raised 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 downgraded Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th.

Shares of Progenics Pharmaceuticals stock opened at $4.33 on Friday. Progenics Pharmaceuticals has a one year low of $3.62 and a one year high of $9.42. The stock has a market cap of $381.28 million, a PE ratio of -6.87 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.81 and a quick ratio of 4.81.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 61.96% and a negative net margin of 436.57%. The business had revenue of $4.28 million during the quarter, compared to the consensus estimate of $3.71 million. On average, sell-side analysts predict that Progenics Pharmaceuticals will post -0.67 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of Progenics Pharmaceuticals during the fourth quarter worth about $42,000. Amalgamated Bank acquired a new position in shares of Progenics Pharmaceuticals during the fourth quarter worth about $53,000. Advisor Group Inc. grew its position in shares of Progenics Pharmaceuticals by 2,466.1% during the fourth quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock worth $53,000 after buying an additional 12,158 shares in the last quarter. SG Americas Securities LLC acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at approximately $55,000. Finally, Boston Advisors LLC acquired a new position in Progenics Pharmaceuticals in the fourth quarter valued at approximately $55,000. 84.21% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Diversification Important in Investing

Receive News & Ratings for Progenics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progenics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.