Brokerages Set Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Price Target at $10.50

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has received a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $10.50.

Several research analysts have recently issued reports on PGNX shares. Zacks Investment Research downgraded shares of Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. BidaskClub downgraded shares of Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, UBS Group upgraded shares of to a “neutral” rating and boosted their price objective for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th.

Several large investors have recently bought and sold shares of PGNX. Crossmark Global Holdings Inc. acquired a new stake in shares of Progenics Pharmaceuticals during the 2nd quarter valued at about $62,000. Amalgamated Bank acquired a new stake in shares of Progenics Pharmaceuticals during the 4th quarter valued at about $53,000. Advisor Group Inc. boosted its position in shares of Progenics Pharmaceuticals by 2,466.1% during the 4th quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 12,158 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Progenics Pharmaceuticals during the 1st quarter valued at about $79,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Progenics Pharmaceuticals by 64,922.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,556 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 17,529 shares in the last quarter. Institutional investors own 80.71% of the company’s stock.

PGNX traded down $0.08 during trading on Friday, hitting $5.26. The stock had a trading volume of 514,228 shares, compared to its average volume of 998,089. The stock has a market capitalization of $445.73 million, a price-to-earnings ratio of -8.35 and a beta of 2.72. Progenics Pharmaceuticals has a 12 month low of $3.62 and a 12 month high of $9.42. The company has a current ratio of 4.81, a quick ratio of 4.81 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $5.06.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative net margin of 436.57% and a negative return on equity of 61.96%. The company had revenue of $4.28 million for the quarter, compared to the consensus estimate of $3.71 million.

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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