Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Short Interest Update

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) was the recipient of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 5,630,000 shares, a decline of 7.9% from the November 14th total of 6,110,000 shares. Approximately 7.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is presently 4.9 days.

NASDAQ PGNX traded down $0.13 on Friday, hitting $5.01. 481,735 shares of the company were exchanged, compared to its average volume of 474,333. The company’s 50 day moving average price is $5.39 and its 200-day moving average price is $5.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a market capitalization of $444.21 million, a P/E ratio of -7.95 and a beta of 2.68. Progenics Pharmaceuticals has a twelve month low of $3.42 and a twelve month high of $6.31.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 91.96% and a negative net margin of 311.63%. The company had revenue of $5.61 million for the quarter, compared to analysts’ expectations of $7.05 million.

PGNX has been the topic of several recent analyst reports. BidaskClub downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, ValuEngine downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.75.

A number of large investors have recently added to or reduced their stakes in PGNX. Farallon Capital Management LLC grew its stake in Progenics Pharmaceuticals by 32.0% during the 2nd quarter. Farallon Capital Management LLC now owns 5,543,386 shares of the biotechnology company’s stock valued at $34,203,000 after acquiring an additional 1,342,566 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Progenics Pharmaceuticals by 573.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,151,552 shares of the biotechnology company’s stock valued at $7,105,000 after acquiring an additional 980,574 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Progenics Pharmaceuticals during the 2nd quarter valued at about $3,918,000. Vanguard Group Inc. grew its stake in Progenics Pharmaceuticals by 7.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,463,704 shares of the biotechnology company’s stock valued at $33,712,000 after acquiring an additional 364,803 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Progenics Pharmaceuticals by 1.5% during the 2nd quarter. BlackRock Inc. now owns 13,742,674 shares of the biotechnology company’s stock valued at $84,792,000 after acquiring an additional 209,687 shares in the last quarter. 78.49% of the stock is currently owned by institutional investors.

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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