Zacks: Analysts Anticipate Progenics Pharmaceuticals, Inc. (PGNX) to Announce -$0.11 Earnings Per Share

Wall Street brokerages expect that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will report earnings per share of ($0.11) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Progenics Pharmaceuticals’ earnings, with estimates ranging from ($0.16) to ($0.06). Progenics Pharmaceuticals reported earnings per share of ($0.21) in the same quarter last year, which would suggest a positive year over year growth rate of 47.6%. The company is expected to report its next earnings report on Thursday, March 14th.

On average, analysts expect that Progenics Pharmaceuticals will report full-year earnings of ($0.67) per share for the current financial year, with EPS estimates ranging from ($0.75) to ($0.59). For the next year, analysts anticipate that the company will post earnings of ($0.25) per share, with EPS estimates ranging from ($0.29) to ($0.21). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Progenics Pharmaceuticals.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.09. Progenics Pharmaceuticals had a negative net margin of 341.41% and a negative return on equity of 94.45%. The business had revenue of $5.32 million for the quarter, compared to analyst estimates of $4.14 million.

PGNX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Needham & Company LLC increased their price objective on shares of Progenics Pharmaceuticals from $14.00 to $16.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 31st. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, July 30th. BidaskClub lowered shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $13.00 price objective on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $11.69.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Progenics Pharmaceuticals by 16.7% in the third quarter. BlackRock Inc. now owns 13,293,243 shares of the biotechnology company’s stock valued at $83,349,000 after purchasing an additional 1,902,006 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in Progenics Pharmaceuticals by 1.1% in 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 in the last quarter. Royce & Associates LP increased its stake in Progenics Pharmaceuticals by 1.3% in the second quarter. Royce & Associates LP now owns 1,177,256 shares of the biotechnology company’s stock valued at $9,465,000 after purchasing an additional 15,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Progenics Pharmaceuticals by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 1,160,542 shares of the biotechnology company’s stock valued at $7,277,000 after purchasing an additional 97,561 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Progenics Pharmaceuticals by 6.8% in the second quarter. Northern Trust Corp now owns 934,820 shares of the biotechnology company’s stock valued at $7,516,000 after purchasing an additional 59,558 shares in the last quarter. 76.39% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PGNX traded down $0.23 during trading hours on Friday, hitting $5.41. The company’s stock had a trading volume of 743,800 shares, compared to its average volume of 1,375,316. Progenics Pharmaceuticals has a twelve month low of $4.68 and a twelve month high of $9.42. The firm has a market capitalization of $474.28 million, a P/E ratio of -6.01 and a beta of 2.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.34 and a quick ratio of 6.34.

Progenics Pharmaceuticals Company Profile

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

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