Progenics Pharmaceuticals (NASDAQ:PGNX) Posts Earnings Results, Beats Expectations By $0.02 EPS

Progenics Pharmaceuticals (NASDAQ:PGNX) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02, Fidelity Earnings reports. The company had revenue of $5.61 million for the quarter, compared to analysts’ expectations of $7.05 million. Progenics Pharmaceuticals had a negative return on equity of 65.17% and a negative net margin of 339.86%.

NASDAQ:PGNX traded up $0.01 during midday trading on Friday, hitting $6.03. 1,126,400 shares of the stock were exchanged, compared to its average volume of 1,104,456. Progenics Pharmaceuticals has a one year low of $3.42 and a one year high of $6.31. The company has a market capitalization of $517.13 million, a price-to-earnings ratio of -9.57 and a beta of 2.82. The business has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $4.96. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 0.71.

PGNX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. ValuEngine cut Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Brookline Capital Management initiated coverage on Progenics Pharmaceuticals in a report on Monday, July 29th. They set a “buy” rating and a $10.00 target price on the stock. BTIG Research set a $14.00 target price on Progenics Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, BidaskClub raised Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $8.94.

In related news, insider Lte Partners, Llc purchased 43,520 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were bought at an average price of $4.62 per share, with a total value of $201,062.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velan Capital, L.P. purchased 204,056 shares of the company’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $4.31 per share, for a total transaction of $879,481.36. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 677,306 shares of company stock worth $2,968,406. 4.26% of the stock is owned by corporate insiders.

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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Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

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