Progenics Pharmaceuticals Inc. (PGNX) Shares Gap Up to $7.10
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.61, but opened at $7.10. Progenics Pharmaceuticals shares last traded at $6.92, with a volume of 1,183,731 shares changing hands.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Cantor Fitzgerald set a $15.00 price objective on shares of Progenics Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. TheStreet cut shares of Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 26th. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Aegis reissued a “buy” rating and issued a $14.00 price objective on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.83.
The stock’s 50-day moving average is $6.01 and its 200 day moving average is $7.45. The stock’s market cap is $488.37 million.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The company had revenue of $2.77 million during the quarter, compared to the consensus estimate of $3.34 million. Progenics Pharmaceuticals had a negative net margin of 6.13% and a negative return on equity of 4.11%. The business’s quarterly revenue was down 67.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities analysts anticipate that Progenics Pharmaceuticals Inc. will post ($0.90) earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Phocas Financial Corp. lifted its stake in Progenics Pharmaceuticals by 4.7% in the second quarter. Phocas Financial Corp. now owns 1,466,748 shares of the biotechnology company’s stock valued at $9,959,000 after buying an additional 65,491 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Progenics Pharmaceuticals in the second quarter valued at $103,000. The Manufacturers Life Insurance Company lifted its stake in Progenics Pharmaceuticals by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 60,600 shares of the biotechnology company’s stock valued at $412,000 after buying an additional 1,868 shares during the last quarter. State Street Corp lifted its stake 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. Finally, Employees Retirement System of Texas bought a new stake in Progenics Pharmaceuticals in the second quarter valued at $557,000. Institutional investors own 89.17% of the company’s stock.
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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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