Bank of New York Mellon Corp increased its position in shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,062,981 shares of the biotechnology company’s stock after acquiring an additional 24,073 shares during the period. Bank of New York Mellon Corp owned approximately 1.41% of Progenics Pharmaceuticals worth $8,546,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Progenics Pharmaceuticals by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 179,714 shares of the biotechnology company’s stock worth $1,445,000 after purchasing an additional 15,080 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Progenics Pharmaceuticals in the 2nd quarter worth approximately $125,000. State of Wisconsin Investment Board lifted its holdings in Progenics Pharmaceuticals by 42.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 75,500 shares of the biotechnology company’s stock worth $607,000 after purchasing an additional 22,500 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Progenics Pharmaceuticals by 13.5% in the 2nd quarter. Alps Advisors Inc. now owns 106,983 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 12,735 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in Progenics Pharmaceuticals by 1.1% in the 2nd 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. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PGNX opened at $6.18 on Friday. The company has a current ratio of 6.34, a quick ratio of 6.34 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $466.47 million, a price-to-earnings ratio of -6.87 and a beta of 2.39. Progenics Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.42.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Tuesday, July 31st. The biotechnology company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.02). The business had revenue of $3.88 million during the quarter, compared to the consensus estimate of $3.30 million. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%. research analysts forecast that Progenics Pharmaceuticals, Inc. will post -0.67 earnings per share for the current fiscal year.

Several research analysts have commented on PGNX shares. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $14.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. ValuEngine downgraded Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. BidaskClub raised Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $13.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $11.69.

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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Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

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