Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) were up 9.9% during trading on Thursday . The company traded as high as $6.12 and last traded at $6.12. Approximately 2,039,100 shares changed hands during mid-day trading, an increase of 90% from the average daily volume of 1,071,149 shares. The stock had previously closed at $5.57.

A number of analysts recently commented on PGNX shares. Aegis reiterated a “buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a report on Tuesday, August 22nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, September 27th. BidaskClub upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Progenics Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $13.75.

The company has a debt-to-equity ratio of 0.80, a current ratio of 7.86 and a quick ratio of 7.86.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.58 million. Progenics Pharmaceuticals had a negative net margin of 445.81% and a negative return on equity of 67.61%. The firm’s quarterly revenue was down 95.0% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. research analysts forecast that Progenics Pharmaceuticals Inc. will post -0.92 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals in the second quarter worth approximately $103,000. Numeric Investors LLC purchased a new position in shares of Progenics Pharmaceuticals in the second quarter worth approximately $2,877,000. Royce & Associates LP increased its position in shares of Progenics Pharmaceuticals by 7.7% in the second quarter. Royce & Associates LP now owns 1,346,374 shares of the biotechnology company’s stock worth $9,142,000 after acquiring an additional 95,700 shares in the last quarter. Hikari Power Ltd purchased a new position in shares of Progenics Pharmaceuticals in the third quarter worth approximately $1,472,000. Finally, New York State Common Retirement Fund increased its position in shares of Progenics Pharmaceuticals by 11.0% in the second quarter. New York State Common Retirement Fund now owns 239,525 shares of the biotechnology company’s stock worth $1,626,000 after acquiring an additional 23,723 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

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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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