Progenics Pharmaceuticals, Inc. (PGNX) Expected to Post Earnings of -$0.24 Per Share

Analysts forecast that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will report earnings of ($0.24) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Progenics Pharmaceuticals’ earnings, with estimates ranging from ($0.30) to ($0.18). Progenics Pharmaceuticals reported earnings of ($0.19) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 26.3%. The company is expected to announce its next earnings results before the market opens on Thursday, May 9th.

According to Zacks, analysts expect that Progenics Pharmaceuticals will report full year earnings of ($0.62) per share for the current financial year, with EPS estimates ranging from ($0.67) to ($0.57). For the next fiscal year, analysts expect that the business will post earnings of ($0.19) per share, with EPS estimates ranging from ($0.41) to $0.03. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Progenics Pharmaceuticals.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data on Thursday, March 14th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Progenics Pharmaceuticals had a negative return on equity of 59.85% and a negative net margin of 433.09%. The firm had revenue of $3.24 million during the quarter, compared to the consensus estimate of $10.99 million.

Several equities analysts have recently weighed in on PGNX shares. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Wednesday, January 16th. BidaskClub upgraded Progenics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, January 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $10.35.

Large investors have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Progenics Pharmaceuticals by 2,466.1% during the fourth quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 12,158 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Progenics Pharmaceuticals in the 3rd quarter worth about $102,000. Fosun International Ltd increased its holdings in Progenics Pharmaceuticals by 14.0% in the 4th quarter. Fosun International Ltd now owns 454,588 shares of the biotechnology company’s stock worth $1,773,000 after buying an additional 56,000 shares in the last quarter. Teachers Advisors LLC increased its holdings in Progenics Pharmaceuticals by 6.9% in the 3rd quarter. Teachers Advisors LLC now owns 241,655 shares of the biotechnology company’s stock worth $1,515,000 after buying an additional 15,696 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Progenics Pharmaceuticals by 11.8% in the 4th quarter. Geode Capital Management LLC now owns 943,271 shares of the biotechnology company’s stock worth $3,961,000 after buying an additional 99,428 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.

Shares of NASDAQ:PGNX opened at $5.21 on Friday. Progenics Pharmaceuticals has a 1-year low of $3.62 and a 1-year high of $9.42. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.39. The firm has a market cap of $462.43 million, a PE ratio of -8.27 and a beta of 2.45.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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