Analysts Anticipate Progenics Pharmaceuticals, Inc. (PGNX) Will Announce Quarterly Sales of $13.12 Million
Wall Street analysts forecast that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will report $13.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Progenics Pharmaceuticals’ earnings, with the highest sales estimate coming in at $17.94 million and the lowest estimate coming in at $8.30 million. Progenics Pharmaceuticals posted sales of $3.89 million during the same quarter last year, which would indicate a positive year over year growth rate of 237.3%. The firm is expected to report its next quarterly earnings results on Thursday, March 14th.
According to Zacks, analysts expect that Progenics Pharmaceuticals will report full-year sales of $25.51 million for the current year, with estimates ranging from $20.70 million to $30.33 million. For the next financial year, analysts expect that the firm will report sales of $52.60 million, with estimates ranging from $42.40 million to $62.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Progenics Pharmaceuticals.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.09. The business had revenue of $5.32 million during the quarter, compared to the consensus estimate of $4.14 million. Progenics Pharmaceuticals had a negative net margin of 341.78% and a negative return on equity of 66.86%.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Progenics Pharmaceuticals by 16.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,046,431 shares of the biotechnology company’s stock valued at $31,641,000 after buying an additional 727,575 shares during the period. Legal & General Group Plc boosted its position in Progenics Pharmaceuticals by 23.2% in the 3rd quarter. Legal & General Group Plc now owns 179,219 shares of the biotechnology company’s stock valued at $1,119,000 after buying an additional 33,799 shares during the period. Teachers Advisors LLC boosted its position in Progenics Pharmaceuticals by 6.9% in the 3rd quarter. Teachers Advisors LLC now owns 241,655 shares of the biotechnology company’s stock valued at $1,515,000 after buying an additional 15,696 shares during the period. MetLife Investment Advisors LLC boosted its position in Progenics Pharmaceuticals by 57.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 50,896 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 18,633 shares during the period. Finally, Man Group plc boosted its position in Progenics Pharmaceuticals by 163.0% in the 3rd quarter. Man Group plc now owns 30,937 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 19,173 shares during the period. Hedge funds and other institutional investors own 92.09% of the company’s stock.
Shares of NASDAQ PGNX traded down $0.38 during midday trading on Wednesday, reaching $4.64. 1,644,782 shares of the stock were exchanged, compared to its average volume of 1,144,312. The company has a market capitalization of $438.78 million, a P/E ratio of -5.16 and a beta of 2.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.51 and a quick ratio of 9.51. Progenics Pharmaceuticals has a twelve month low of $4.63 and a twelve month high of $9.42.
About Progenics Pharmaceuticals
Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.
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