Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) Releases Earnings Results
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.04, MarketWatch Earnings reports. The firm had revenue of $2.77 million during the quarter, compared to the consensus estimate of $3.34 million. Progenics Pharmaceuticals had a return on equity of 7.50% and a net margin of 10.24%. The business’s revenue for the quarter was down 67.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share.
Progenics Pharmaceuticals (PGNX) traded down 15.35% during trading on Wednesday, hitting $5.13. 4,228,760 shares of the stock traded hands. The stock has a 50 day moving average price of $6.72 and a 200-day moving average price of $8.29. The stock has a market cap of $360.25 million, a P/E ratio of 52.89 and a beta of 3.35. Progenics Pharmaceuticals has a 52-week low of $4.60 and a 52-week high of $11.72.
PGNX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub downgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Needham & Company LLC reissued a “strong-buy” rating on shares of Progenics Pharmaceuticals in a report on Monday, April 24th. Cantor Fitzgerald started coverage on shares of Progenics Pharmaceuticals in a report on Wednesday, July 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $12.33.
Large investors have recently modified their holdings of the stock. Eagle Asset Management Inc. boosted its stake in shares of Progenics Pharmaceuticals by 50.8% in the second quarter. Eagle Asset Management Inc. now owns 4,012,366 shares of the biotechnology company’s stock worth $27,243,000 after buying an additional 1,352,245 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Progenics Pharmaceuticals by 8.7% in the second quarter. Principal Financial Group Inc. now owns 594,849 shares of the biotechnology company’s stock valued at $4,039,000 after buying an additional 47,647 shares during the period. BKS Advisors LLC boosted its stake in Progenics Pharmaceuticals by 35.4% in the second quarter. BKS Advisors LLC now owns 145,115 shares of the biotechnology company’s stock valued at $985,000 after buying an additional 37,915 shares during the period. Royce & Associates LP boosted its stake in Progenics Pharmaceuticals by 7.7% in the second quarter. Royce & Associates LP now owns 1,346,374 shares of the biotechnology company’s stock valued at $9,142,000 after buying an additional 95,700 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its stake in Progenics Pharmaceuticals by 64.6% in the second quarter. Virginia Retirement Systems ET AL now owns 45,100 shares of the biotechnology company’s stock valued at $306,000 after buying an additional 17,700 shares during the period. Institutional investors own 92.20% of the company’s stock.
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Progenics Pharmaceuticals Company Profile
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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