Brokerages forecast that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will post sales of $3.97 million for the current quarter, Zacks reports. Two analysts have provided estimates for Progenics Pharmaceuticals’ earnings, with the highest sales estimate coming in at $4.24 million and the lowest estimate coming in at $3.70 million. Progenics Pharmaceuticals reported sales of $2.70 million in the same quarter last year, which indicates a positive year over year growth rate of 47%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Progenics Pharmaceuticals will report full year sales of $23.03 million for the current year, with estimates ranging from $17.70 million to $28.36 million. For the next financial year, analysts expect that the company will post sales of $63.53 million per share, with estimates ranging from $52.46 million to $74.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Progenics Pharmaceuticals.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings data on Tuesday, July 31st. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Progenics Pharmaceuticals had a negative net margin of 341.41% and a negative return on equity of 94.45%. The firm had revenue of $3.88 million during the quarter, compared to analysts’ expectations of $3.30 million.

A number of brokerages have commented on PGNX. ValuEngine cut Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC cut Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating and lowered their target price for the company from $16.00 to $12.00 in a report on Thursday. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $13.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals has an average rating of “Hold” and an average target price of $11.69.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Progenics Pharmaceuticals by 14.0% during the 2nd quarter. BlackRock Inc. now owns 11,391,237 shares of the biotechnology company’s stock valued at $91,584,000 after buying an additional 1,401,564 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Progenics Pharmaceuticals by 7.5% during the first quarter. Eagle Asset Management Inc. now owns 4,470,838 shares of the biotechnology company’s stock worth $33,352,000 after purchasing an additional 310,078 shares during the last quarter. Carillon Tower Advisers Inc. boosted its holdings in shares of Progenics Pharmaceuticals by 7.8% during the first quarter. Carillon Tower Advisers Inc. now owns 3,948,024 shares of the biotechnology company’s stock worth $28,070,000 after purchasing an additional 285,906 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Progenics Pharmaceuticals by 1.1% during the second quarter. Rice Hall James & Associates LLC now owns 1,389,840 shares of the biotechnology company’s stock worth $11,174,000 after purchasing an additional 15,378 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Progenics Pharmaceuticals by 1.3% during the second quarter. Royce & Associates LP now owns 1,177,256 shares of the biotechnology company’s stock worth $9,465,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.

NASDAQ:PGNX traded down $0.38 during trading hours on Friday, reaching $5.61. 2,829,900 shares of the company traded hands, compared to its average volume of 1,364,410. The stock has a market cap of $550.12 million, a PE ratio of -6.36 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34. Progenics Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.42.

Progenics Pharmaceuticals Company Profile

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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