Progenics Pharmaceuticals (NASDAQ:PGNX) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Progenics Pharmaceuticals (NASDAQ:PGNX) announced its earnings results on Friday. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02), Bloomberg Earnings reports. Progenics Pharmaceuticals had a negative net margin of 436.57% and a negative return on equity of 61.96%. The company had revenue of $9.97 million for the quarter, compared to the consensus estimate of $6.40 million.

Progenics Pharmaceuticals stock traded down $0.30 during mid-day trading on Friday, hitting $4.65. 757,152 shares of the company traded hands, 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 capitalization of $415.24 million, a PE ratio of -7.38 and a beta of 2.76. 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 business’s fifty day moving average price is $5.41.

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Progenics Pharmaceuticals in the 4th quarter worth approximately $2,306,000. Rice Hall James & Associates LLC lifted its holdings in shares of Progenics Pharmaceuticals by 19.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 2,293,179 shares of the biotechnology company’s stock worth $10,640,000 after acquiring an additional 369,680 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Progenics Pharmaceuticals by 11.8% in the 4th quarter. Geode Capital Management LLC now owns 943,271 shares of the biotechnology company’s stock worth $3,961,000 after acquiring an additional 99,428 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Progenics Pharmaceuticals in the 2nd quarter worth approximately $309,000. Finally, TD Asset Management Inc. bought a new stake in shares of Progenics Pharmaceuticals in the 2nd quarter worth approximately $262,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Several brokerages have issued reports on PGNX. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Brookline Capital Management began coverage on shares of Progenics Pharmaceuticals in a research report on Monday, July 29th. They set a “buy” rating and a $10.00 target price for the company. BidaskClub lowered shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group reiterated a “positive” rating on shares of Progenics Pharmaceuticals in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $8.44.

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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Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

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