Needham & Company LLC reaffirmed their strong-buy rating on shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) in a research report sent to investors on Friday. They currently have a $14.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on PGNX. Aegis reaffirmed a buy rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. Cantor Fitzgerald set a $15.00 price target on shares of Progenics Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, August 9th. ValuEngine cut shares of Progenics Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, August 3rd. TheStreet cut shares of Progenics Pharmaceuticals from a c rating to a d+ rating in a research note on Friday, May 26th. Finally, Zacks Investment Research raised shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has an average rating of Buy and a consensus price target of $12.83.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded down 6.84% during trading on Friday, reaching $6.27. 1,957,210 shares of the company’s stock were exchanged. Progenics Pharmaceuticals has a 52 week low of $4.60 and a 52 week high of $11.72. The stock’s market capitalization is $440.59 million. The stock has a 50 day moving average price of $6.08 and a 200-day moving average price of $7.82.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.04. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The firm had revenue of $2.77 million for the quarter, compared to analyst estimates of $3.34 million. During the same period in the prior year, the business earned ($0.08) earnings per share. Progenics Pharmaceuticals’s revenue for the quarter was down 67.3% on a year-over-year basis. Analysts predict that Progenics Pharmaceuticals will post ($0.90) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Progenics Pharmaceuticals Inc. (PGNX) Given “Strong-Buy” Rating at Needham & Company LLC” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/progenics-pharmaceuticals-inc-pgnx-given-strong-buy-rating-at-needham-company-llc/1538427.html.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Progenics Pharmaceuticals by 149,468.9% in the first quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock valued at $89,897,000 after buying an additional 9,516,686 shares during the last quarter. Eagle Asset Management Inc. raised its position in 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 valued at $27,243,000 after buying an additional 1,352,245 shares during the last quarter. Vanguard Group Inc. raised its position in Progenics Pharmaceuticals by 46.1% in the first quarter. Vanguard Group Inc. now owns 4,132,770 shares of the biotechnology company’s stock valued at $39,013,000 after buying an additional 1,304,487 shares during the last quarter. Park West Asset Management LLC raised its position in Progenics Pharmaceuticals by 102.1% in the first quarter. Park West Asset Management LLC now owns 2,494,096 shares of the biotechnology company’s stock valued at $23,544,000 after buying an additional 1,259,910 shares during the last quarter. Finally, State Street Corp raised its position in Progenics Pharmaceuticals by 42.7% in the second quarter. State Street Corp now owns 3,708,788 shares of the biotechnology company’s stock valued at $25,186,000 after buying an additional 1,110,067 shares during the last quarter. Institutional investors and hedge funds own 89.17% of the company’s stock.

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.

Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

Receive News & Ratings for Progenics Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progenics Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.