Los Angeles Capital Management & Equity Research Inc. Takes Position in Progenics Pharmaceuticals Inc. (PGNX)
Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,970 shares of the biotechnology company’s stock, valued at approximately $108,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC lifted its stake in Progenics Pharmaceuticals by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 111,935 shares of the biotechnology company’s stock valued at $967,000 after buying an additional 2,769 shares during the period. Profund Advisors LLC acquired a new position in Progenics Pharmaceuticals in the first quarter valued at about $128,000. Russell Investments Group Ltd. acquired a new position in Progenics Pharmaceuticals in the first quarter valued at about $1,899,000. Great West Life Assurance Co. Can lifted its stake in Progenics Pharmaceuticals by 724.2% in the first quarter. Great West Life Assurance Co. Can now owns 100,558 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 88,358 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Progenics Pharmaceuticals by 92.2% in the first quarter. Bank of New York Mellon Corp now owns 1,098,566 shares of the biotechnology company’s stock valued at $10,370,000 after buying an additional 526,905 shares during the period. 89.17% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Progenics Pharmaceuticals Inc. (NASDAQ PGNX) opened at 7.36 on Friday. Progenics Pharmaceuticals Inc. has a one year low of $4.60 and a one year high of $11.72. The firm has a 50 day moving average price of $6.01 and a 200 day moving average price of $7.45. The company’s market capitalization is $517.18 million.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.04). The company had revenue of $2.77 million for the quarter, compared to analyst estimates of $3.34 million. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The firm’s quarterly revenue was down 67.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, equities research analysts predict that Progenics Pharmaceuticals Inc. will post ($0.90) EPS for the current fiscal year.
Several equities analysts have weighed in on PGNX shares. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 target price on shares of Progenics Pharmaceuticals in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a research note on Thursday, June 8th. Aegis reissued a “buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, ValuEngine raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $12.83.
About Progenics Pharmaceuticals
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.
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