Brokerages Set Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) PT at $9.50

Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have received an average recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.50.

A number of research firms have commented on PGNX. BidaskClub cut shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Brookline Capital Management began coverage on shares of Progenics Pharmaceuticals in a research note on Monday, July 29th. They set a “buy” rating and a $10.00 target price on the stock. UBS Group restated a “positive” rating on shares of Progenics Pharmaceuticals in a research note on Thursday, June 20th. Finally, Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at approximately $309,000. Bank of Montreal Can grew its holdings in Progenics Pharmaceuticals by 437.9% during the 2nd quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 10,002 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Progenics Pharmaceuticals by 4.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 254,909 shares of the biotechnology company’s stock valued at $1,573,000 after buying an additional 10,644 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in Progenics Pharmaceuticals during the 2nd quarter valued at approximately $35,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Progenics Pharmaceuticals by 62.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,000 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 16,500 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

NASDAQ PGNX traded down $0.30 on Wednesday, reaching $4.65. 757,152 shares of the stock were exchanged, compared to its average volume of 612,081. Progenics Pharmaceuticals has a one year low of $3.62 and a one year high of $8.41. The firm has a market cap of $415.24 million, a price-to-earnings ratio of -7.38 and a beta of 2.76. The firm’s 50-day moving average price is $5.41. 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 released its earnings results on Friday, August 9th. The biotechnology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Progenics Pharmaceuticals had a negative return on equity of 61.96% and a negative net margin of 436.57%. The firm had revenue of $9.97 million for the quarter, compared to the consensus estimate of $6.40 million. As a group, research analysts predict that Progenics Pharmaceuticals will post -0.72 earnings per share for the current year.

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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