BidaskClub Downgrades Progenics Pharmaceuticals (NASDAQ:PGNX) to Sell

BidaskClub cut shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a hold rating to a sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

A number of other research analysts have also issued reports on PGNX. UBS Group restated a positive rating on shares of Progenics Pharmaceuticals in a report on Thursday, June 20th. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 22nd. Finally, Brookline Capital Management began coverage on shares of Progenics Pharmaceuticals in a report on Monday, July 29th. They set a buy rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $9.55.

NASDAQ:PGNX opened at $3.70 on Wednesday. The firm has a market cap of $328.40 million, a price-to-earnings ratio of -5.87 and a beta of 2.76. The company has a current ratio of 4.25, a quick ratio of 4.81 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $5.23 and its two-hundred day moving average is $4.81. Progenics Pharmaceuticals has a 12-month low of $3.54 and a 12-month high of $8.11.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its earnings results on Friday, August 9th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.02). The firm had revenue of $9.97 million during the quarter, compared to analysts’ expectations of $6.40 million. Progenics Pharmaceuticals had a negative net margin of 339.86% and a negative return on equity of 65.17%. On average, equities research analysts forecast that Progenics Pharmaceuticals will post -1 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $35,000. Pinebridge Investments L.P. purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $40,000. Crossmark Global Holdings Inc. purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter worth about $62,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Progenics Pharmaceuticals by 1,825.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 9,600 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Progenics Pharmaceuticals by 437.9% during the 2nd quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 10,002 shares during the period. Institutional investors and hedge funds own 79.93% of the company’s stock.

Progenics Pharmaceuticals Company Profile

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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Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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