Progenics Pharmaceuticals (PGNX) Stock Rating Upgraded by Zacks Investment Research

Progenics Pharmaceuticals (NASDAQ:PGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, reports.

According to Zacks, “Progenics Pharmaceuticals, Inc. is developing innovative medicines for oncology, with a pipeline that includes several product candidates in later-stage clinical development. Progenics’ first-in-class PSMA-targeted technology platform for prostate cancer includes an antibody drug conjugate therapeutic in a two-cohort phase 2 clinical trial and a small molecule imaging agent that has completed patient dosing in a phase 2 trial. Among other assets in its pipeline of targeted radiotherapy and molecular imaging compounds is Azedra(TM), an ultra-orphan radiotherapy candidate also in a phase 2 study under an SPA. Progenics’ first commercial product, Relistor(R) (methylnaltrexone bromide) for opioid-induced constipation, is partnered with and marketed by Salix Pharmaceuticals, Inc. “

Separately, BidaskClub upgraded Progenics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $9.19.

NASDAQ PGNX opened at $4.33 on Wednesday. The stock has a market capitalization of $381.28 million, a P/E ratio of -6.87 and a beta of 2.45. The company has a quick ratio of 4.81, a current ratio of 4.81 and a debt-to-equity ratio of 0.45. Progenics Pharmaceuticals has a 12 month low of $3.62 and a 12 month high of $9.42.

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

Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new stake in shares of Progenics Pharmaceuticals in the fourth quarter worth about $42,000. Amalgamated Bank bought a new stake in shares of Progenics Pharmaceuticals in the fourth quarter worth about $53,000. Advisor Group Inc. increased its holdings in shares of Progenics Pharmaceuticals by 2,466.1% in the fourth quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 12,158 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Progenics Pharmaceuticals in the fourth quarter worth about $55,000. Finally, Boston Advisors LLC bought a new stake in shares of Progenics Pharmaceuticals in the fourth quarter worth about $55,000. Institutional investors own 84.21% 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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